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RIL goes debt-hunting to raise $1 billion

Agencies

The National Company Law Tribunal approved the amalgamation of the two subsidiaries in August.

Synopsis

SBI and MUFG together will likely lend about $600 million and the seven other banks will advance the remainder. The loan may be of three-year maturity.

Mumbai: Mukesh Ambani-led Reliance Industries plans to raise about $1 billion through a syndicated overseas loan at the lowest interest rate in more than a decade, three people with direct knowledge of the matter told ET.A cluster of nine banks including State Bank of India, Mitsubishi UFJ Financial Group (MUFG), Citibank, HSBC, Bank of America and DBS Bank are likely to price the loan after adding a spread, or mark-up, of 95 basis points over

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