Mukesh Ambani-owned Reliance Industries has obtained a dual-currency borrowing of $2.9 billion-equivalent, the largest offshore Indian loan in over a year, as per a report by Bloomberg.
About 55 lenders joined the facility, making it the largest bank group for a syndicated loan in Asia so far this year, people familiar with the matter told Bloomberg.
The interest shows lenders’ appetite for quality assets in a market starved for deals. Asia Pacific ex-Japan loan volumes hit a 20-year low so far in 2025, closing about $29 billion of deals denominated in US dollars, euros and yen — also known as G3 currencies, according to Bloomberg-compiled data.
"Reliance Industries’ loan is split into a $2.4 billion tranche and a ¥67.7 billion ($462 million) piece, the people told Bloomberg, adding that the facility agreement was signed on May 9."
Bloomberg data shows that RIL has repayments worth about $2.9 billion, including interest payments, due in 2025.
Reliance Industries is currently rated one notch above India’s sovereign grade, a rare instance of when a company’s creditworthiness is higher than the country it’s based in. The borrower is rated Baa2 by Moody’s Ratings and BBB by Fitch Ratings.
About 55 lenders joined the facility, making it the largest bank group for a syndicated loan in Asia so far this year, people familiar with the matter told Bloomberg.
The interest shows lenders’ appetite for quality assets in a market starved for deals. Asia Pacific ex-Japan loan volumes hit a 20-year low so far in 2025, closing about $29 billion of deals denominated in US dollars, euros and yen — also known as G3 currencies, according to Bloomberg-compiled data.
"Reliance Industries’ loan is split into a $2.4 billion tranche and a ¥67.7 billion ($462 million) piece, the people told Bloomberg, adding that the facility agreement was signed on May 9."
Bloomberg data shows that RIL has repayments worth about $2.9 billion, including interest payments, due in 2025.
Reliance Industries is currently rated one notch above India’s sovereign grade, a rare instance of when a company’s creditworthiness is higher than the country it’s based in. The borrower is rated Baa2 by Moody’s Ratings and BBB by Fitch Ratings.
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