Reliance Industries, led by Indian billionaire Mukesh Ambani, has secured a dual-currency loan of $2.9 billion-equivalent, reported Bloomberg citing people familiar with the matter. According to the report, this is the largest offshore Indian loan in over a year. The report added that about 55 lenders joined the facility, which marks the largest bank group for a syndicated loan in Asia so far this year.
As per the report, this deal was finalized on May 9, 2025, and it consists of two tranches: a $2.4 billion US dollar portion and a second tranche worth approximately $462 million, equivalent to 67.7 billion Japanese yen.
In 2025 so far, syndicated loan volumes in the Asia-Pacific region (excluding Japan) in G3 currencies (US dollar, euro, and yen) have reached approximately $29 billion. Reliance’s $2.9 billion loan is about 10% of this amount, highlighting the company’s robust credit profile and significant presence in the global financial landscape.
Notably, Reliance holds a rating one notch above India’s sovereign grade. This is a rare occurrence where a company’s creditworthiness surpasses that of its home country. The company is rated Baa2 by Moody’s and BBB by Fitch Ratings.
According to media reports, this funding will support Reliance’s continued expansion across key sectors such as telecommunications, retail, and green energy. This landmark deal, secured amid a year of cautious lending, solidifies Reliance’s reputation as one of Asia’s most trusted and financially resilient conglomerates.
Financial Performance For Mukesh Ambani-Led Reliance
In its fourth-quarter earnings report released last month, Reliance Industries reported a net debt of Rs 1.17 lakh crore after Rs 1.13 lakh crore in capital expenditure for FY25. Despite the substantial outlay, CFO V. Srikanth noted during the earnings call that the company’s financial position remains stable, citing a flat net debt environment and healthy cash profits that support continued investment.
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