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Reliance Industries mulls raising $1.5 Billion loans
Saturday, 21 May 2011, 00:37 IST
New Delhi: Billionaire industrialist Mukesh Ambani-led Reliance Industries is looking to raise up to $1.5 billion (about Rs 67,500 crore) of overseas loans, largely to replace its existing higher interest borrowings.
Sources said the energy-to-retail conglomerate was looking to raise the funds through dollar- denominated loans and has begun the process of finalising the syndicate banks for the same.
A company spokesperson refused comment on the debt raising plans.
Sources said that RIL could look at raising over USD one 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 USD 1.5 billion for the first time through bonds denominated in US dollars.
Source: PTI
Source: PTI
