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Market Chatter: Japan's NEXI to Sign Trade Insurance MoU for 100 Billion Yen Reliance Loan

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Japanese government-backed Nippon Export and Investment Insurance (NEXI) will sign a memorandum of understanding on Thursday on a trade insurance deal with Indian conglomerate Reliance Industries (NSE:RELIANCE, BOM:500325), Nikkei reported Thursday.

The deal covers trade insurance on a 100 billion yen syndicated loan, supporting solar panel and battery manufacturing expansion to strengthen supply chain cooperation between the two countries, the report said.

The loan by a group of seven banks, including MUFG Bank, BNP Paribas and JPMorgan Chase, will be in both yen and dollars for the procurement of materials and equipment and research, giving Japanese companies access to the Indian market.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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