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Article: India: RIL hires 17 banks for $1 bn loan.
- Article from:
- TendersInfo
- Article date:
- July 16, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
Reliance Industries (RIL) hired 17 banks to arrange a $1 billion loan to fund expansion, according to a sale document sent to investors. It will pay interest of 1.3 percentage points above the London Interbank Offered Rate (LIBOR) for the five-year loan, the document shows. Reliance plans to meet investors in Asia and the Middle East, document shows. The deal will add to more than $21 billion of syndicated loans borrowers in India have raised this year to buy assets, boost production, and refinance debt, data compiled by agency show. India now accounts for 23% of the syndicated lending market in Asia outside of Japan. Vedanta Resources, India's ...
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