Reliance Secures $2.9 Billion Largest Indian Offshore Loan

Reliance Industries, led by Mukesh Ambani, secured a landmark dual-currency offshore loan totaling $2.9 billion, the largest by an Indian company in over a year. The loan, finalized on May 9, 2025, consists of a $2.4 billion tranche in US dollars and a 67.7 billion yen (approximately $462 million) tranche in Japanese yen. Around 55 banks participated in the syndicated loan, forming the largest bank group assembled for such a deal in Asia this year, highlighting strong lender appetite for high-quality assets despite a regional slowdown in deal activity. This single deal accounts for about 10% of the $29 billion raised in G3 currency syndicated loans across Asia Pacific (excluding Japan) so far in 2025, underscoring Reliance's dominant financial position. Reliance's strong credit profile, rated above India's sovereign rating, and diversified funding strategy reflect its significant standing in the global financial market. The funds are expected to support Reliance's expansion in telecom, retail, and green energy sectors amid a cautious credit environment.