BNP Paribas answers Jio’s call for $2 billion loan

India’s largest telco, Reliance Jio Infocomm, is raising up to $2 billion (Rs 16,550 crore) in offshore loans with BNP Paribas as lead arranger of the initiative that will help fund the purchase of 5G network gear from Sweden’s Ericsson.

“BNP Paribas will provide $1.9-2 billion over a nine-month period during the course of which Jio will be paying back Ericsson, BNP and some other banks,” a person aware of the development told ET.

The funding is through a discounted process.