Reliance Industries Said to Conclude $1 Billion Term Loans with 31 Banks

Owner of the world’s largest refinery, received $1 billion of term loans from a group of 31 banks, according to sources. RIL’s $500 million, five-year facility pays an all-in fee of 171.5 basis points more than the London interbank offered rate, while a similar-size, seven-year facility pays 192 basis points.

Fourteen banks arranged the financing and another 17 joined in general syndication. Bank of America Corp., Bank of Tokyo-Mitsubishi UFJ Ltd., Barclays Plc, BNP Paribas SA, Citigroup Inc., Credit Agricole CIB, DBS Group Holdings Ltd., DnB NOR ASA, Export Development Canada, HSBC Holdings Plc, Intesa Sanpaolo SpA, Mizuho Corporate Bank Ltd., Standard Chartered Plc and Sumitomo Mitsui Banking Corp. were the arrangers.