28 banks to seal $1.5-billion RIL loan, allocations

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SummaryThe $1.5 billion equivalent facility for Reliance Industries is being signed by a total of 28 banks via circulation, according to sources.

The $1.5 billion equivalent facility for Reliance Industries (RIL) is being signed by a total of 28 banks via circulation, according to sources.

Of the 16 mandated lead arrangers and bookrunners, State Bank of India holds about $396.2 million ($78.8 million on tranche A, $317.3 million on tranche B). Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and Standard Chartered Bank each hold $84.6 million ($47.3 million on tranche A, $37.3 million on tranche B). Sumitomo Mitsui Banking took $84.6 million-equivalent in yen ($47.3 millionon tranche A, $37.3 million-equivalent on tranche B).

The remaining MLABs — ANZ, Bank of America Merrill Lynch, Bank of Nova Scotia, Barclays, Credit Agricole CIB, DBS Bank, DNB Bank, HSBC, National Australia Bank, RBS and Westpac Banking — each held $47.3 million on tranche A.

Joining as MLAs are Commonwealth Bank of Australia, which took US$50m on tranche A, and Export Development Canada, which took $25 million on tranche A and $25 million on tranche B. Sumitomo Mitsui Trust Bank came in as co-arranger, with $16.7 million-equivalent in yen on tranche A and $8.3 million-equivalent in yen on tranche B. Joining as lead arranger is Bank of East Asia, with $40 million (via its Singapore and New York branches).

Eight banks joined tranche A, with the title of lead manager: National Bank of Kuwait ($15 million), Chinatrust Commercial Bank ($10 million), First Commercial Bank ($10 million), Hua Nan Commercial Bank ($10 million), Mega International Commercial Bank ($10 million), Taiwan Business Bank (US$10m), Taiwan Cooperative Commercial Bank ($10 million) and Cathay United Bank ($5 million).

As previously reported, the unsecured underwritten bullet loan comprises a $1 billion tranche A and a $500 million tranche B.

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