Jio Infratel may raise Rs 10,0000 cr post Brookfield Deal

KOLKATA: Reliance Jio Infratel, India’s largest telecom tower company that will soon be fully controlled by a Brookfield-led consortium, may raise an additional Rs 10,000 crore of long-term debt after the deal closes to clear financial liabilities.

The fresh debt and proceeds from Brookfield’s proposed Rs 25,215-crore investment in an infrastructure trust that owns Jio Infratel will be used to pay off roughly Rs 36,500 crore of the tower entity’s liabilities, comprising loans from banks and Reliance IndustriesNSE 0.71 % (RIL), and vendor-related dues.

The infrastructure trust “may raise an additional Rs 10,000 crore to repay/refinance” the tower arm’s liabilities, Bank of America-Merrill Lynch, which was present at Reliance Jio Infocomm’s earnings call on Friday, said in a note to clients.