The Ambani brothers are on a worldwide fundraising spree at a time when India Inc is faced with a high interest rate scenario in the domestic market and difficult conditions globally, The Times of India reports.
“While Reliance Group chairman Anil Ambani has found Chinese banks to refinance debts and raise fresh loans for its communications and power business, his elder brother’s firm Reliance Industries (RIL) is seen tapping export credit agencies across the globe — from US, Korea, France, Germany and Italy to raise $7 billion or Rs 3,8000 crore. RIL is again raising $1 billion, after securing $2.1 billion credit from US EXIM early this month to part fund its $12 billion expansion of the petrochemicals complex in Jamnagar.”
Read the full story at The Times of India.