Reliance Industries, Jio raise USD 5 Billion in largest syndicated loan in India

12:00:00 AM, Thursday 6th of April 2023 | in business

Reliance Industries Ltd and its telecom arm Jio Infocomm have raised a total of USD 5 billion in back-to-back foreign currency loans, the largest syndicated loan in India's corporate history, sources said. Reliance last week raised USD 3 billion from 55 banks and Reliance Jio Infocomm secured additional credit of USD 2 billion from 18 banks, sources aware of the development said.