Reliance to raise $ 1.75 billion

Reliance Industries Ltd.,plans to borrow $1.75 billion by mid-August to refinance debt and fund capital expenditure, according to two people familiar with the matter.
The facility may be drawn in US and Singapore dollars, Euro and Japanese yen, and proceeds will help to refinance $1.2 billion of multicurrency loans signed in 2008, the people said, asking not to be identified because the details are private. Some $550 million of new money denominated in US dollars will be raised for capital expenditure.
Reliance plans to spend Rs1.5 trillion ($24.6 billion) over the next three years to expand businesses ranging from natural gas to petrochemicals and telecommunications

Source: MINT