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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