RIL raises $2 bn

RIL said it signed a $2-billion equivalent loan with nine banks covered by Euler Hermes Deutschland AG earlier this week in Germany. The loan will be used to finance goods and services procured from German suppliers as part of RIL's petrochemicals expansion projects at Jamnagar, Hazira, Silvassa and Dahej. "The facility is among the largest underwriting by Euler Hermes in recent years... Despite the challenging financial markets, the deal witnessed 50 per cent over subscription. The facility has a door-to-door maturity of 13 years," the company said.