Reliance Takes $736m Green Loan to Fund REC Solar Purchase: Mint

India’s Reliance Industries Ltd (RIL) has taken a $736 million equivalent green loan from five banks to fund the acquisition of Norwegian solar panel manufacturer REC Solar Holdings, Mint reported.

ANZ, Credit Agricole, DBS Bank, HSBC and MUFG were the lenders, the company said. Singapore-incorporated REC Solar is the borrower while Reliance New Energy Solar, RIL’s wholly owned subsidiary and the acquiring entity, is the guarantor.

Read the full report: Mint.

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.