Photo: ReutersMumbai: Reliance Industries Ltd, among the biggest forex loan borrowers in India, is set to tap the foreign debt market to raise $2.7 billion to refinance its existing high-cost debt. RIL spent around ₹ 22,000 crore as capital expenditure on Reliance Jio Infocomm Ltd in the June quarter, and reported a net income of ₹ 9,459 crore in the same period. In Q1 FY19, RIL had an outstanding debt of ₹ 242,116 crore, up from ₹ 218,763 crore in the previous three months. “We are planning to raise $ 2.7 billion in forex debt through the course of fiscal 2019. More than half of RIL’s $ 34 billion debt is due for repayment by 2022, while around $ 13 billion is maturing from 2018 through 2020.

Source: Mint July 29, 2018 09:33 UTC