Reliance in talks for $2 billion loan to fuel expansion

Reliance Industries Limited is in talks with lenders for a foreign currency loan of up to $2 billion to fuel the ongoing expansion of its oil-to-telecom business. Additionally, it plans to use India’s dedicated external commercial borrowing route to secure the loan. The facility may have a maturity period ranging from three to five years. The proceeds will be used for capital expenditure and to refinance another loan that matures in September 2023.