Reliance woos banks in senior syndication

By Pan Yue
01 Apr 2020

Reliance Industries is seeking commitments from banks for a ¥38bn ($351m) Samurai loan in senior syndication. The Indian company’s deal is part of a two-tranche dollar and yen-denominated transaction worth about $1.45bn.

Crédit Agricole, Mizuho, MUFG Bank and Sumitomo Mitsui Banking Corp are the mandated lead arrangers and bookrunners for the yen portion, according to bankers.

The facility has a tenor of five years with a bullet repayment. The margin is set at 64bp over yen Libor. Participants can ...

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