Infotel Broadband Services, a unit of Indian conglomerate Reliance Industries, is looking to raise as much as US$1bn via dollar-denominated loans, according to Dow Jones.
The money will be raised in two tranches. The first one will be a five-year loan…
Infotel Broadband Services, a unit of Indian conglomerate Reliance Industries, is looking to raise as much as US$1bn via dollar-denominated loans, according to Dow Jones.
The money will be raised in two tranches. The first one will be a five-year loan paying an interest rate of 255 basis points over Libor, Dow Jones wrote.
The second one will have a five-year and one month maturity and will pay an interest rate of 230 bps over Libor. It will be used to repay an existing loan, according to the report.
A few months ago, Infotel was allocated spectrum to in all of India’s 22 circles to offer high-speed mobile broadband services. It was then acquired by Reliance Industries.
