iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Reliance is negotiating a $2 billion loan to support its expansion

16 Jun 2023 , 11:37 AM

According to news reports, Reliance Industries Ltd. is in discussions with lenders for a foreign currency loan of up to $2 billion to support the continuous growth of its oil to telecoms business.

The expansive company, run by Mukesh Ambani, intends to use India’s designated external commercial borrowing channel to get the loan, according to the reports.

According to one of the reports, the facility may have a three- to five-year maturity date. The funds will be utilized for capital expenditures and to refinance a loan that will mature in September.

According to one of the persons who talked to ET, lenders involved in the conversations include Bank of America Corp., Citigroup Inc., and Standard Chartered Plc. 

Ambani is seeking money as he works to expand his telecom and customer-facing businesses inside his company, which is based mostly on the processing of crude oil. After the company managed to reach net debt zero status in 2020, extensive borrowings have been used to fuel Reliance’s expansion drive.

In addition to last year’s $3 billion purchase of the streaming rights to the highly sought-after Indian Premier League cricket event, Reliance has stated its intention to invest $75 billion in renewable energy over the course of 15 years. The company is also deploying 5G network services across South Asia, with an estimated $25 billion cost.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • expansion
  • Loans
  • reliance
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.