Reliance Industries Ltd.

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.