MUMBAI: Reliance IndustriesBSE 1.77 %,
owner of the world's largest oil refining complex , plans to borrow
about $2 billion to refinance debt, according to three people familiar
with the matter.
RILBSE 1.77 % is in talks with banks for a five-year loan, the people said, asking not to be identified, because the terms aren't set.
Outstanding debt at the company as of December 31 was Rs 72,266 crore ($13.2 billion ), compared with Rs 68,259 crore a year earlier, figures on its website show.
A Reliance spokesman didn't immediately reply to e-mailed questions seeking comment on the financing. The company borrowed an unprecedented $5.8 billion overseas in 2012 and will spend $27 billion in five years to build petrochemical plants and drill wells, Deutsche Bank estimates.
The company has $19 billion of bonds and loans outstanding , according to data compiled by Bloomberg. It's cash pile stood at $13.3 billion on December 31, versus $8.9 billion a year earlier, data show.
Reliance's shares rose 1.6% to Rs 780.10 in Mumbai on Friday.
RILBSE 1.77 % is in talks with banks for a five-year loan, the people said, asking not to be identified, because the terms aren't set.
Outstanding debt at the company as of December 31 was Rs 72,266 crore ($13.2 billion ), compared with Rs 68,259 crore a year earlier, figures on its website show.
A Reliance spokesman didn't immediately reply to e-mailed questions seeking comment on the financing. The company borrowed an unprecedented $5.8 billion overseas in 2012 and will spend $27 billion in five years to build petrochemical plants and drill wells, Deutsche Bank estimates.
The company has $19 billion of bonds and loans outstanding , according to data compiled by Bloomberg. It's cash pile stood at $13.3 billion on December 31, versus $8.9 billion a year earlier, data show.
Reliance's shares rose 1.6% to Rs 780.10 in Mumbai on Friday.
BSE
780.35
13.60(1.77%)
Vol: 329022 shares traded
NSE
780.10
12.55(1.64%)
Vol: 2969243 shares traded
ABDUL WAHEED
PGDM 2nd SEM.
IIMT COLLEGE OF MANAGEMENT
No comments:
Post a Comment