Reliance turns to ECA-backed financing

The Indian oil-to-retail conglomerate aims to diversify funding and extend tenors, shifting Reliance towards cheaper ECA-backed financing.

Mukesh Ambani, chairman of Reliance, which is negotiating deals with six export credit agencies around the world

Chien Mi Wong

December 13, 2013

Billionaire Mukesh Ambani’s Reliance Industries is an active borrower in the bond and syndicated loan markets, but it is increasingly taking advantage of export credit agency (ECA)-backed financing as a way to diversify its funding sources.

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