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Our Bureau

Mumbai , Aug. 24

RELIANCE Industries Ltd (RIL) has mandated a group of leading international banks for syndicating $348 million term loan facility for three years. The facility intends to refinance two existing higher cost loans, said a company release here today.

The mandated lead arrangers for the loan are ABN AMRO Bank N.V., Bank of America N.A, the Bank of Tokyo-Mitsubishi, Ltd., Calyon, Hongkong and Shanghai Banking Corporation Ltd, ING Bank N.V. and Standard Chartered Bank.

These have since been joined by Mizuho Corporate Bank Ltd, Hypo-Vereinsbank, ICICI Bank, Rabobank, RZB Austria, Societe Generale and Sumitomo Mitsui Banking Corporation

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