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Home: Reliance Industries subsidiary raises $ 1 billion in 10-year bonds

Reliance Industries subsidiary raises $ 1 billion in 10-year bonds

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NetIndian News Network
Mumbai, February 10, 2012
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A subsidiary of oil, gas and petrochemicals major Reliance Industries Limited (RIL) has raised $ 1 billion through 10-year dollar denominated debt, the largest sale of bonds overseas from an Indian company in nine months.

Reliance Holding USA Inc. sold the 5.4 per cent guaranteed senior notes due 2022 priced at 345 basis points over the 10-year US Treasury note, at a price of 99.481% to yield 5.468%.
 
The notes will be fully and unconditionally guaranteed by RIL, a press release from the company said.
 
The transaction priced through RIL’s secondary curve and was nearly 8 times over-subscribed with an orderbook aggregating US$ 7.8 billion. 

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