Telecom operator Reliance Jio Infocomm has arranged credit facilities worth $1.5 billion with lenders, including Bank of America and Barclays, to refinance existing loans.
The alliance will extend an existing partnership between the two.
One reason Japan is betting highly on Indian pharma is that these companies have strong cash flows, low leverage and high debt capacity for medium to large sized acquisitions.
Foreign banks were ahead in terms of technology, but that is no longer the case as Indian private banks steal the innovation march.
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