Reliance Jio secures $2 bn loan for 5G Expansion from HSBC

05 Oct 2023 CW Team

According to the report, Finnvera, the Finnish credit agency, has extended coverage for a similar amount to insure Nokia. This strategic coverage is anticipated to lower Jio's funding costs for acquiring 5G equipment.

Sources familiar with the matter revealed that the deal was recently finalised after several months of discussions with HSBC as the lead arranger. The loan amount hovers around $1.5-2 billion and is structured in a manner that includes an implied rate of interest over the loan's tenure.

It's noteworthy that in September, Jio had also secured nearly $2 billion from BNP Paribas, primarily earmarked for financing the purchase of 5G equipment from Ericsson.

In their annual report, Jio disclosed a collaboration with the Swedish credit agency EKN, through which they obtained funding amounting to $2.2 billion. These funds are specifically allocated for procuring equipment and services essential for their ambitious 5G plan.

Additionally, recent data released by the Telecom Regulatory Authority of India (Trai) showcased Jio's robust growth in user numbers. In July, Jio welcomed 3.9 million new mobile users, a significant increase compared to Airtel's addition of 1.5 million users during the same period.

Jio's momentum continued as they added 2.2 million users in June. Furthermore, the company achieved a milestone in July by surpassing 10 million landline connections, up from 9.95 million the previous month. Notably, Jio currently dominates one-third of India's extensive 30.6-million-strong landline market, providing services to a significant portion of the country's population.

For the month of July, Jio boasted a substantial subscriber market share of 38.6%, while Airtel held a respectable 32.7% share, solidifying Jio's position as a major player in India's competitive telecommunication landscape.

Reliance Jio Infocomm has successfully secured a significant offshore loan amounting to Rs 16,640 crore ($2 billion) for the financial year 2023-24 (FY24). This move stands as one of the largest offshore loans in the country. The primary purpose of this funding is to facilitate the procurement of telecommunication equipment from the renowned Finnish company, Nokia. The loan arrangement has been orchestrated by HSBC, which acts as the lead arranger for this substantial financial transaction. According to the report, Finnvera, the Finnish credit agency, has extended coverage for a similar amount to insure Nokia. This strategic coverage is anticipated to lower Jio's funding costs for acquiring 5G equipment. Sources familiar with the matter revealed that the deal was recently finalised after several months of discussions with HSBC as the lead arranger. The loan amount hovers around $1.5-2 billion and is structured in a manner that includes an implied rate of interest over the loan's tenure. It's noteworthy that in September, Jio had also secured nearly $2 billion from BNP Paribas, primarily earmarked for financing the purchase of 5G equipment from Ericsson. In their annual report, Jio disclosed a collaboration with the Swedish credit agency EKN, through which they obtained funding amounting to $2.2 billion. These funds are specifically allocated for procuring equipment and services essential for their ambitious 5G plan. Additionally, recent data released by the Telecom Regulatory Authority of India (Trai) showcased Jio's robust growth in user numbers. In July, Jio welcomed 3.9 million new mobile users, a significant increase compared to Airtel's addition of 1.5 million users during the same period. Jio's momentum continued as they added 2.2 million users in June. Furthermore, the company achieved a milestone in July by surpassing 10 million landline connections, up from 9.95 million the previous month. Notably, Jio currently dominates one-third of India's extensive 30.6-million-strong landline market, providing services to a significant portion of the country's population. For the month of July, Jio boasted a substantial subscriber market share of 38.6%, while Airtel held a respectable 32.7% share, solidifying Jio's position as a major player in India's competitive telecommunication landscape.

Infrastructure Energy

22 Oct 2025

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Infrastructure Urban

22 Oct 2025

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Infrastructure Energy

22 Oct 2025

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..