Ambani’s Jio in talks to lift about $1.6 billion for tools

Mumbai: India’s Reliance Jio Infocomm is in talks to lift a mortgage for about $1.6 billion to fund the acquisition of apparatus from Nokia Oyj, in response to folks acquainted with the matter.

Banks concerned within the discussions with billionaire Mukesh Ambani’s telecoms firm embody Citigroup, HSBC Holdings and JPMorgan Chase & Co., mentioned the folks, who requested to not be named as a result of the matter is non-public. The mortgage will possible have a maturity of as a lot as 15 years and can be priced over the Secured In a single day Financing Fee, they mentioned.