US Ex-Im Bank extends $2.1 bn credit to RIL
The transaction represents Reliance’s first attempt at funding through the capital markets with an Ex-Im Bank guaranteed bond issuance.
The credit will support approximately 12,300 US jobs, according to bank estimates derived from Departments of Commerce and
Labor data and methodology. Moreover, 6 per cent of the financing is expected to support American small businesses.
“This transaction is a tremendous opportunity for US exporters and US jobs, as revealed by the impressive exporter and job counts,” said Ex-Im Bank Chairman and President Fred P Hochberg.
“We are very pleased to support Reliance in this important expansion project,” added Lillian Labbat, managing director, JP Morgan.
Using US goods
* The transaction includes a $1.06 billion direct loan and to guarantee a $1.06 billion JPMorgan Chase loan to the firm
* It represents Reliance’s first attempt at funding through the capital markets with an Ex-Im Bank guaranteed bond issuance
* The credit will support approximately 12,300 US jobs, according to bank estimates
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