CORPORATE
RIL raises $625-million Samurai loan – the largest-ever such deal by an Indian company
- IBJ Bureau
- May 29, 2026
Reliance Industries (RIL) has executed the largest-ever Samurai loan raised by an Indian company.
The loan transaction underscores growing confidence among Japanese lenders in RIL’s financial strength, diversified business model and expanding clean energy ambitions.
The Mukesh Ambani-led company raised 91.9 billion yens, or nearly $625 million, through the Samurai loan transaction during FY26.
The deal is the third-largest Samurai loan ever raised by an Asian corporate entity, with participation from 10 Japanese and Taiwanese banks.
The transaction comes at a time when Reliance is increasingly positioning itself as one of the most globally financed Indian companies, with access to multiple international funding markets even amid volatile global conditions.
A Samurai loan is a Japanese yen-denominated, cross-border, syndicated loan raised by a non-Japanese borrower in the Japanese loan market.
It allows foreign corporations and financial institutions to access Japanese capital, diversify their funding sources and achieve lower borrowing costs compared to US dollar alternatives.
In December 2025, S&P Global Ratings had upgraded RIL’s international debt rating from BBB+ to A-, citing stronger earnings stability and rising contribution from less-cyclical, consumer-facing businesses, such as telecom and retail.
The upgrade is significant because Reliance’s rating now stands two notches above India’s sovereign rating, improving the company’s ability to access overseas capital pools at lower borrowing costs and tighter credit spreads.
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