Reliance nears loan mandate after proposals

06 Jun 2012

Reliance Industries looks set to mandate banks for a $1bn loan soon, swelling the supply of international loans from the country after an almost 35% fall in dollar loans from Indian companies since the start of the year.

The company has already received proposals for potential bookrunners, but has not yet confirmed the mandate for the deal, said bankers familiar with the process.

Indian borrowers have closed around $8.14bn of loans in the dollar market so far this year, a 34.25% fall in borrowing compared to ...

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