Reliance pulls trigger on $1.75bn loan with RFP

A request for proposals by Reliance Industries for a chunky $1.75bn loan, four months after the borrower started speaking to lenders, has livened up the slow pace of deals in the market. But bankers this week questioned the company's timing, saying that the deal was coming at a turbulent time for the Indian economy. Some worry that global banks will be put off: at the very least, they expect Reliance to have to pay up, writes Rashmi Kumar.

  • By Mark Baker
  • 02 Aug 2013

Structurally, the deal presents few difficulties. The conglomerate, which operates across oil, gas and petrochemical sectors, has split the loan into two — a $1.2bn five year tranche and a $550m six year loan, said bankers who have received the proposal.

The purpose of the loan is also ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,628 18 11.81
2 Citi 4,288 14 10.95
3 Rabobank 2,633 4 6.72
4 Goldman Sachs 2,615 4 6.67
5 Barclays 2,603 8 6.64

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Rank Lead Manager Amount $m No of issues Share %
  • Last updated
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1 Bank of America Merrill Lynch 57,210.26 177 12.39%
2 Citi 56,957.04 171 12.34%
3 Wells Fargo Securities 47,551.45 149 10.30%
4 JPMorgan 32,965.91 111 7.14%
5 Credit Suisse 23,990.96 75 5.20%