Billionaire Mukesh Ambani-owned Reliance Industries Limited (RIL) has raised a whopping USD 3 billion (approximately Rs 25735680000) from a consortium of 11 banks to refinance existing loans. According to reports by The Economic Times this is the biggest borrowing deal in nearly two years. The massive five-year loan was finalized in December last year and is pegged at 120 basis points over the three-month Secured Overnight Financing Rate (SOFR) amounting to USD 450 million in Japanese yen. Notably Reliance is preparing for a major repayment of loans which are scheduled for this year. The report mentioned a source revealing that the company has already used USD 700 million from the loan and plans to access more funds during this quarter depending on their needs. Loan Pricing And Terms As of mid-December the three-month SOFR was around 4.80%. With an added 120 basis points the US dollar loan comes to roughly 6%. On the other hand for loans in yen they tack on 75 basis points over Japans regular rate the three-month TIBOR. The report citing the source stated that the dual-currency loan agreement having both USD and Yen was executed in December 2024. The company is planning to use the USD 3 billion loan to refinance existing loans maturing in 2025. More banks are expected to join the syndication this quarter according to the report. This move will allow lenders to better manage their risks and boost their ability to lend to Reliance Industries Limited (RIL) one of Indias most trusted companies in terms of creditworthiness. As per Bloomberg the Mukesh Ambani-owned company has around USD 2.9 billion including interest payments which it has to pay this year. RIL had also sought a massive loan to strengthen its financial flexibility. Banking Partners Bank of America holds the largest share of a loan with a hefty $343 million. Close behind DBS Bank and HSBC each contribute $300 million. Japans MUFG comes in with $280 million while Indias State Bank of India has put forward $275 million. The report also mentions that Japanese banks like Standard Chartered Mizuho Bank and SMBC have each committed $250 million. First Abu Dhabi Bank Citibank and Credit Agricole CIB have all added $241 million to the pool as detailed in the report. It is noteworthy that this deal is similar to the dual-currency dollar-yen loan that Reliance raised three years back in 2022. The deal attracted interest from global banks. That loan was expanded to USD 5 billion surpassing the initial USD 3 billion loan following the approval from the Reserve Bank of India. Reliance Industries stands out as Indias leading corporate borrower. It has been awarded with a  BBB+ credit rating maintaining a stable outlook; interestingly this rating exceeds Indias sovereign rating of BBB-.