Reliance Industries to raise $2.5 bn to fund telecom loans

The company will raise the loan in two tranches, $815 mn in US dollars and 150 mn euros its telecom arm, Jio would raise $1.5 billion, which would be guaranteed by the parent company

India’s largest private sector firm, Reliance Industries (RIL), is set to launch a $2.5 billion fundraising exercise overseas to refinance loans taken for its telecom venture, Jio. This would be the largest fundraising exercise by any Indian company this year in the overseas market, where liquidity among banks is high.

While RIL would raise the loan in two tranches, $815 million in US dollars and 150 million euros; its telecom arm, Jio would raise $1.5 billion, which would be guaranteed by the parent company.

On Wednesday, RIL shares closed five per cent up at Rs 914 a share, providing the stock a