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

Written by Reuters | Hong Kong | Updated: Sep 29 2012, 08:35am hrs
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.