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Reliance secures credit facility of up to $550 million from Japan banks for petchem expansion program

7:09 AM MDT | April 23, 2014 | Francinia Protti-Alvarez

The Japan Bank for International Cooperation (JBIC; Tokyo) has extended a syndicated loan of up to $330 million to establish an export credit line with Reliance Industries, JBIC announced today. The credit line is cofinanced up to $220 million by a club of six banks lead by the Bank of Tokyo-Mitsubishi UFJ (Tokyo), the lead arranger. The banks—Sumitomo Mitsui Banking (Tokyo), Mizuho Bank (Tokyo), The Gunma Bank (Tokyo), The Hachijuni Bank (Nagano, Japan), and The Chiba Bank (Chiba, Japan)—are supported by a 95% Nippon Export and Investment Insurance...

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