Reliance Industries has secured a dual-currency loan worth the equivalent of USD 2.9 billion, according to a report by Bloomberg.

This marks the largest offshore loan raised by an Indian company in over a year. The facility agreement was signed on May 9, 2025.

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As per the deal, the loan is split into two parts, which are a USD 2.4 billion tranche in US dollars and a 67.7 billion yen (approximately USD 462 million) tranche in Japanese yen.

About 55 banks participated in the deal, making it the largest bank group for a syndicated loan in Asia so far this year.

As per Bloomberg, this transaction has pushed foreign currency loan volumes raised by Indian companies to USD 10.4 billion so far in 2025.

While syndicated lending in the broader Asia-Pacific region (excluding Japan) has slumped to a two-decade low of USD 29 billion in G3 currencies—US dollars, euros, and yen—India has stood out.

Owned by billionaire Mukesh Ambani, the conglomerate holds credit ratings of Baa2 from Moody’s and BBB from Fitch, placing it a notch above India’s sovereign credit rating.

In its latest address, Mukesh Ambani laid out an ambitious roadmap, stating the group aimed to break into the world’s 30 most valuable companies, up from its current position in the top 50.

Reliance Industries Ltd Chairman Mukesh Ambani met US President Donald Trump at the Lusail Palace in Doha, Qatar on May 15.

Ambani was seen exchanging pleasantries with both Trump and Qatari Emir Sheikh Tamim bin Hamad Al-Thani before heading inside for the dinner.