Reliance Industries Said to Plan to Sign $1.09 Billion Loan
This article is for subscribers only.
Reliance Industries Ltd., controlled by billionaire Mukesh Ambani, plans to sign a $1.09 billion loan tomorrow after 13 banks joined the original 18 hired to arrange the five-year term facility, according to two people familiar with the matter.
Mumbai-based Reliance, India’s biggest company by market value, has the equivalent of $10.2 billion of loans maturing before the end of 2017, according to data compiled by Bloomberg. The petrochemical and textiles maker is seeking to expand in financial services and hotels as domestic demand in the South Asia nation increases.