RIL plans to raise $1.5 bn via overseas loans: Report

Indian energy major Reliance Industries is in talks with banks to raise as much as USD 1.5 billion in dollar-denominated loans, a Bloomberg report said on Saturday, citing two people familiar with the development.

May 21, 2011 / 16:06 IST

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Indian energy major Reliance Industries is in talks with banks to raise as much as USD 1.5 billion in dollar-denominated loans, a Bloomberg report said on Saturday, citing two people familiar with the development.

The company plans to borrow USD 1.1 billion in five-year loans to replace debt maturing in about two years that has higher interest costs and may obtain another USD 400 million of new loans, the report said.

Reliance, which has USD 14.2 billion of debt outstanding maturing through 2097, has not decided the lead arrangers and the banks for the debt syndicate.

Reuters could not reach Reliance for a comment immediately.

first published: May 21, 2011 02:26 pm

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