India's RIL secures over $7 billion in offshore finance

(Hindu Business Line, Mumbai, 7 August 2024) Reliance Industries (RIL), India's largest private sector company, secured over $7 billion in various offshore financing initiatives in FY24, and it would continue to monitor financial markets to seize suitable opportunities for capital raising to support its growth plans.. It obtained $4.45 billion in syndicated term loans facilities offshore. RJio also secured $2.2 billion to finance equipment and services for its pan-India 5G rollout comprising first-ever Finnish Export Credit Agency (Finnvera) supported facilities of $1.6-billion equivalent and $600-million equivalent facilities from Canadian Export Credit Agency. It also tied up $625 million with Korean Export Credit Agency to finance the purchase of floating, production, storage and offloading vessel in the oil and gas business.