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Report: Reliance Capital raises 25B rupees to refinance debt

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Report: Reliance Capital raises 25B rupees to refinance debt

Reliance Capital Ltd. raised 25 billion Indian rupees through term loans and nonconvertible debentures to refinance its debt, Press Trust of India reported Nov. 21, citing "people aware of the matter."

The funds were raised from banks and financial institutions, with the maturity period ranging from five to seven years, the report said.

A Reliance Capital spokesperson declined to comment on the issue, PTI said.

As of Nov. 21, US$1 was equivalent to 64.91 Indian rupees.