Widening the export credit scope

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15 March 2005

In this particular deal, Deutsche Bank has arranged ECA-backed financing for the Reliance Industries group – in a deal which is the company's first ECA-covered financing for 22 years.

Reliance Industries – export financing

Mandated arranger: Deutsche Bank

Borrower: Reliance Industries Ltd (RIL)

Amount: e116.2 million

Tenor: 10.5 years and 9 years

ECA: Euler Hermes and Sace

Purpose: Financing of equipment for the expansion of RIL's Polyester plants in Hazira and Patalganga, India

With India gradually opening up to export credit financing, a number of key industrial groups are looking to use this route to re-equip or expand their manufacturing capabilities, and a few international banks appear to be well-placed to assist in this regard. In this...

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