India's Reliance Industries is in talks with banks for a loan of as much as $3 billion to refinance debt that is due next year, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Mukesh Ambani's Reliance Industries is reportedly in talks with banks for a $3 billion loan to refinance $2.9 billion debt due in 2025. The move follows Reliance’s $8 billion offshore borrowing in 2023.

About half a dozen banks are in discussions with the Indian conglomerate for the loan, which would be syndicated to wider market in the first quarter of 2025

Billionaire Mukesh Ambani-owned Reliance Industries is in talks with banks for a loan of $3 billion. If this materialises, it could be the largest offshore loan from India in over a year.

The loan, which is anticipated to be syndicated to a wider market in early 2025, is currently being discussed by RIL with roughly six lenders.

“Reliance Industries is in talks with banks for a loan of as much as $3 billion to refinance debt that is due next year,” Bloomberg News reported on Tuesday (December 10, 2024), citing people familiar with the issue.

India's Reliance Industries is in talks with banks for a loan of as much as $3 billion to refinance debt that is due next year, Bloomberg News reported on Tuesday, citing people familiar with the matter.