Jio dials clutch of foreign banks for up to $1.5 billion loan
The likes of HSBC, JP Morgan Chase and Citi among others are set to arrange an around 3-5 year loan for Jio, which is likely to be priced above the Secured Overnight Financing Rate (SOFR), a new global rate gauge, two people aware of the matter said. The pricing of the loans, they added, could be around 100-150 basis points above the SOFR.
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