Reliance Industries (RIL) is to tap the international debt market for a fresh five-year $250 million multi-currency syndicated loan facility.The mandate for this transaction has been awarded to six of its relationship banks, including ABN Amro Bank, Bank of America and Calyon, and it commences a new financing programme for fiscal 2006, RIL said in a release here today.The multi-currency borrowing provides the banks with an option to participate in a combination of Yen, USD and Euro, signifying considerable breadth of the diversified international investor base for RIL paper, it said.The proceeds of this transaction are also being lead arranged by the Bank of Tokyo-Mitsubishi, DBS Bank and the HSBC, it said. The new manadate follows an earlier syndicated loan facility of $350 million, which closed in March 2005.The transaction was the most successful syndication of a foreign currency loan by an indian company, with participation by a diversified group of 34 international banks, it said.RIL president finance Alok Agarwal said "This financing represents our effort through our global relationship banks to diversify our international investor base even further".
