Reliance raises $4 billion in foreign currency bonds
The Hindu
‘Largest issuance by an Indian firm’
Reliance Industries Limited (RIL) said it has raised $4 billion in long- term debt of up to 40 years through the largest-ever foreign currency bond issuance by an Indian company.
The company plans to use the proceeds of the Senior Unsecured Notes across 10, 30 and 40-year tranches for refinancing of existing borrowings.
The bonds, due for maturity in 2032, are priced at 2.875%, while those due in 2052 and 2062 were priced at 3.625% and 3.750%, respectively.
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