Reliance raises $4 billion in India’s largest-ever foreign currency bonds issue
The Hindu
This is the largest ever foreign currency bond transaction in India, eclipsing ONGC Videsh Ltd’s $2.2 billion USD bonds issue of 2014.
Reliance Industries Ltd, the nation’s most valuable company, on Thursday said it has raised USD 4 billion (around ₹30,000 crore) in debt through the largest ever foreign currency bond issuance by an Indian entity.
The oil-to-telecom conglomerate plans to use the proceeds of the three tranche issues to retire existing borrowings.
The issue was “nearly 3 times oversubscribed with a peak order book aggregating around $11.5 billion,” the company said in a statement.
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