RIL enters a $1.5 billion syndicate loan facility with 28 banks

Billionaire Mukhesh Ambani owned Reliance Industries (RIL) has been reported to have inked a syndicated loan facility worth $1.5 billion with a group of 28 banks. Further, the facility consists of a $1 billion tranche with a maturity of six years, and a $500 million tranche with a maturity of 7.25 years.

Meanwhile, the mandated lead arrangers and book runners for the deal were ANZ Bank of America, Credit Agricole ACA, Bank of Nova Scotia, Royal Bank of Scotland, Bank of Tokyo-Mitsubishi UFJ Barclays, DBS, DNB HSBC, Mizuho National Australia Bank, , Standard Chartered, State Bank of India, Sumitomo Mitsui and Westpac.

Recently, Reliance Industries (RIL) along with Venezuelan State Oil Company, Petroleos de Venezuela, SA (PDVSA) signed a 15 year heavy crude oil supply contract and a memorandum of understanding (MOU) with PDVSA to further development of Venezuelan heavy oil fields. The signing of the contract and MOU marks further strengthening of the long-standing relationship between RIL and PDVSA.