Key Points
Indias Reliance Jio Infocomm Ltd. is in talks to raise a loan for about $1.6 billion to fund the purchase of equipment from Nokia Oyj, according to people familiar with the matter...
Banks involved in the discussions with billionaire Mukesh Ambanis telecoms company include Citigroup Inc., HSBC Holdings Plc. and JPMorgan Chase & Co., said the people, who asked not to be named because the matter is private..
Finlands export credit agency, Finnvera, will issue guarantees covering the majority of the loan, they said.. Nokia announced last October that it had clinched an agreement to supply Jio with equipment for its 5G rollout in India..
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