RIL Plans to Borrow $2 B to Refinance Debt ET dt. 06-04-!

OUR BUREAU MUMBAI

Reliance Industries, owner of the worlds largest oil refining complex, plans to borrow about !
billion to refinance debt, according to three people familiar with the matter"RI# is in tal$s with
ban$s for a fi%e&'ear loan, the people said, as$ing not to be identified, because the terms arent
set" Outstanding debt at the compan' as of (ecember )* was"+!,!,, crore -*)"! billion.,
compared with",/,!01 crore a 'ear earlier, figures on its website show" A Reliance spo$esman
didnt immediatel' repl' to e&mailed 2uestions see$ing comment on the financing" 3he compan'
borrowed an unprecedented 0"/ billion o%erseas in !4*! and will spend !+ billion in fi%e 'ears
to build petrochemical plants and drill wells, (eutsche Ban$ estimates" 3he compan' has *1
billion of bonds and loans outstanding, according to data compiled b' Bloomberg" Its cash pile
stood at *)") billion on (ecember )*, %ersus /"1 billion a 'ear earlier, data show" Reliances
shares rose *",5 to"+/4"*4 in Mumbai on 6rida'"