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JP Morgan in pact with RIL to provide Rs 2,000-crore funding

Views 3 Views    Comments 0 Comments    Share Share    Posted 11-12-2008  
10 Dec 2008:

MUMBAI: Global financial services major, J P Morgan has signed an 11-year agreement with Reliance Industries, to provide $400-million (around Rs
2,000 crore) loan for the latter`s various projects in the country.

JP Morgan is acting as the arranger, lender and facility agent for the transaction, the company said in a press statement issued here today.

"We expect to see a rapid growth in the demand for US export programmes in the near future, especially for clients seeking long-term financing solutions,"JP Morgan`s Asia Pacific Treasury services Head, Simon Jones said.

Through the structured finance solution, which has been created by J P Morgan with US Exim Bank, will finance RIL`s equipment purchases from a total of 17 US suppliers, the company said.

Including this new facility, RIL has raised more than USD 2.5-billion over the past four months to support its capital expenditure programme, it said.

Source:
http://economictimes.indiatimes.com/Finance/JP_Morgan_in_pact_with_RIL_to_provid
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