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Reliance Industries mulls raising $1.5 bn loans

23 May 2011 Evaluate

Reliance Industries is looking to raise up to $1.5 billion (about Rs 67,50 crore) of overseas loans, largely to replace its existing higher interest borrowings. RIL could look at raising over $1 billion of dollar loans to repay its existing loans maturing in a couple of years, while it would also look at further $400-500 million dollars of fresh borrowings from abroad.

Last year in October, RIL had raised $1.5 billion for the first time through bonds denominated in US dollars. While it raised $1 million through 10-year bonds, another $500 million were arranged through sale of 30-year bonds. These funds were raised through RIL’s wholly owned subsidiary Reliance Holding USA Inc.

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1361.90 8.25 (0.61%)
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