Reliance Natural Resources chooses six for its $310m standby syndicated facility

07 Jul 2006

Reliance Natural Resources has mandated six banks to lead a $310m standby letter of credit facility that will come to the market next week. They are Bank of America, Barclays Capital, BNP Paribas, DBS Bank, Kreditanstalt für Wiederaufbau and Sumitomo Mitsui Banking Corp.

The news comes shortly after sister company Reliance Energy scaled back a planned five year loan from $500m to $360m, prompting suggestions from bankers that the two deals may be linked.

The decrease, last month, upset some bankers, as it meant Reliance Energy essentially avoided paying syndication fees by ...

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