Reliance Power raises two billion dollors of debt

Thebullishtrends: Reliance Power Share price closed today at Rs.384.35. Reliance Power has considered HSBC, Standard Chartered and ABN Amro among other foreign banks for raising two billion dollars of debt to help fund its ultra mega power project in Sasan. As per the ET, Reliance Power has received the Reserve Bank of India approval for this external commercial borrowing (ECB) proposal to finance the foreign exchange portion of debt for Sasan UMPP and is looking to complete the process next month, sources close to the development said. Reliance Power is also in the process of finalising the names of local financial institutions for a domestic debt of about Rs 6,600 crore in the next few months

\