Reliance Industries Ltd.

Reliance Industries (RIL), the country’s largest corporate has raised $1.5 billion through an overseas bond sale programme. The company is sitting on a cash pile of nearly Rs 73,000 crore and is still on a debt-raising spree. With this new debt raising, the company has raised around $4 billion so far this year, with the first two being a $1.5-billion issue in February and another $1 billion issue in May. The company aims to use these funds for capital expansion programme as planned.

Recently, billionaire Mukhesh Ambani owned company 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.