Mukesh Ambani took the biggest syndicate loan in corporate history, know what he will do

Reliance Industries Ltd: Mukesh Ambani's Reliance Industries Limited (RIL) and its telecom unit Jio Infocomm have raised the largest syndicate loan. It is being called the biggest syndicate loan in corporate history. Reliance Industries has raised $5 billion in two tranches from a consortium of different banks in the form of foreign currency loans. Let us tell you that syndicate loan is called that which is taken from a group of banks / financial institutions.

Raised $3 billion from 55 banks

Money will be spent on starting 5G network

Reliance Jio will use this amount for capital expenditure. This money will be spent by Jio on starting 5G network across the country. Sources said the initial $3 billion loan was raised from 55 lenders, including about two dozen banks in Taiwan, as well as global banks such as Bank of America, HSBC, MUFG, Citi, SMBC, Mizuho and Crédit Agricole.

After the good response to the primary loan, it was decided to take an additional loan of two billion dollars. After this, a new loan of two billion dollars was also taken from 55 lenders on the same terms.