Hutchison Essar Ltd, India’s fourth largest mobile-phone company, got a $140mn to expand its phone network in India.
The deal is the first syndicated loan for Hutchison Essar, a joint venture between Hutchison Whampoa Ltd.’s Hong Kong-based Hutchison Telecommunications International Ltd. and the Essar Group in Mumbai.
The deal was arranged by Bank of America Securities LLC, N Bayerische Hypo-UND Vereinsbank AG, Chinatrust Commercial Bank, Rabobank NA and Raiffeisen Zentralbank Oesterreich AG.