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Reliance Industries, led by billionaire Mukesh Ambani, has raised a dual-currency syndicated loan totaling approximately $2.9 billion, marking the largest offshore borrowing by an Indian company in more than a year, according to a Bloomberg report.

Finalised on May 9, 2025, the financing deal is structured in two tranches: a $2.4 billion portion denominated in US dollars and a second tranche of 67.7 billion Japanese yen, equivalent to approximately $462 million, the report added. The loan attracted participation from 55 banks, forming the largest lending consortium for a syndicated loan in Asia this year. So far in 2025, total syndicated loan activity in the Asia-Pacific region (excluding Japan) in G3 currencies (USD, EUR, JPY) has reached only about $29 billion, underscoring the relative scale and significance of the Reliance deal.

Syndicated Loan Volumes

So far in 2025, total syndicated loan volumes across the Asia-Pacific region, excluding Japan, for deals in G3 currencies (US dollar, euro, and yen) have amounted to just around USD 29 billion. Reliance’s $2.9 billion loan accounts for roughly 10 per cent of this figure, underscoring the company’s strong credit appeal and its influential role in the global financial ecosystem. The funding is expected to support Reliance’s continued expansion across key sectors such as telecommunications, retail, and green energy. In a year marked by cautious lending, this landmark deal reinforces Reliance’s position as one of Asia’s most trusted and financially resilient conglomerates.

Reliance Q4

In its fourth-quarter earnings report released last month, Reliance Industries disclosed a net debt of Rs 1,17,000 crore, following capital expenditure of Rs 1,13,100 crore for FY25. Despite the significant outlay, Chief Financial Officer V. Srikanth emphasised during the earnings call that the company remains in a stable financial position. “It has been a flat net debt environment, and if you look at the capex versus our cash profits, we are clearly below — all the numbers are quite healthy and allow us to continue investing,” he noted.