Mukesh Ambani gets Rs 250000000000… Reliance Industries secures India’s largest foreign…, 55 banks collectively…

Mukesh Ambani’s Reliance Industries has secured a loan of $2.9 billion of around Rs 25,000 crores. According to Bloomberg, this is India’s largest foreign loan taken by a company in a single year.

Around 55 banks have collectively given this loan so it has become Asia’s largest syndicated loan deal this year. A syndicated loan means multiple banks come together and bring resources to provide credit to a single company.

In the Asia-Pacific region (excluding Japan), syndicated loans dropped to the lowest in 20 years. According to Bloomberg only deals of $29 billion were executed this year in G3 currencies (dollar, euro, and yen).

Reliance Industries’s Loan

The loan has been divided into two tranches i.e. in $2.4 billion and ¥67.7 billion (around $462 million). The agreement was finalized on May 9 and Reliance has to repay $2.9 billion including interest in 2025.

Reliance Industries’ credit rating has surpassed the Indian government’s rating. Moody’s has rated Reliance at Baa2, and Fitch has given them a BBB rating. This means Reliance has a high creditworthiness and gives banks and investors gurantee of its financial stability. 

Reliance Industries Chairman and Managing Director Mukesh Ambani met U.S. President Donald Trump and the Emir of Qatar in Doha on Thursday, according to India time. He has strong business ties with major U.S. tech companies like Google and Meta. The meeting can improve international partnerships and investment prospects for Reliance Industries.

(With Inputs From ANI)

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