RIL and Jio raise $2 billion add-on forex loan

Reliance Industries Limited (RIL) and its unit Reliance Jio Infocomm have raised $2 billion add-on foreign currency loan at the most competitive rates. The move comes days after signing a $3 billion financing agreement in India’s most widely syndicated loan. The fundraising is the largest th­rough syndicated term loans by an Indian corporate house in at least five years. The new loan of $2 billion has the same terms as the borrowing signed on the previous loan with 55 lenders, including 40 that joined in two phases of syndication.