Reliance Petroleum Ltd., a subsidiary of Reliance Industries Ltd (RIL), has mandated a group of Lead Arrangers to arrange a US$1.5 bln Syndicated Term Loan Facility. Each of the 14 original mandated lead arrangers, after a comprehensive due diligence has obtained the necessary approvals for the Facility.
The Facility is India´s largest ever offshore syndicated loan financing. It comprises of a US$ 950 million 7.5-year tranche and a US$ 550 million 10-year tranche with a blended average life of 6.6 years. This landmark fundraising represents the largest offshore syndicated loan financing ever from India and the final maturity of ten years represents the longest maturity for any corporate term debt issuance out of India. The facility´s door to door tenor of 10 years will open a new window for Indian corporates since the maturity profile for the offshore syndicated loans has been largely restricted to 5-7 years.
The loan will finance a new 580,000 bpd refinery and a 0.9 million tpa polypropylene unit located adjacent to RIL´s existing refinery at Jamnagar, Gujarat, India.
14-Aug-06 
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