Infotel Broadband Raises $500 Mln From Royal Bank of Scotland-Led Consortium - Report

31st Jul 2010 07:35

MUMBAI (Dow Jones)--India's Infotel Broadband Services Pvt. Ltd., a unit of Reliance Industries Ltd. (500325.BY), has raised $500 million from a consortium of lenders headed by Royal Bank of Scotland (RBS.LN), the Economic Times reported Saturday, citing three unnamed people familiar with the deal. The report said the deal was completed by the end of June and the tenure of the loan is six years. The funds were raised at an interest rate of 250-300 basis points above the London Interbank Offered Rate and would be used for network rollout to start wireless broadband services. Newspaper website: http://www.economictimes.com -By Mumbai Bureau, Dow Jones Newswires; 91 22 6145 6100; [email protected] (END) Dow Jones Newswires July 31, 2010 02:35 ET (06:35 GMT)