India’s largest telecom operator, Reliance Jio Infocomm, is seeking to raise up to $2 billion in loans with French bank BNP Paribas as lead arranger of the initiative that will help fund the purchase of 5G network gear from Swedish vendor Ericsson, local newspaper The Economic Times reported.
“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,” the Indian paper reported, citing a source with knowledge of the matter.
