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RIL raises $1 bn through bond issue

Thu, Jan 22, 2015, 01:34 PM
Mumbai, Jan 22: Reliance Industries (RIL) Thursday said that it has raised a $1 billion through a dollar bond issue.

The funds will be used for the company's ongoing capital expenditure.

"This transaction opened up the market for private sector corporate issuances out of Asia, against the backdrop of challenging market conditions,” V. Srikanth, joint chief financial officer of RIL, said in a statement.

"We successfully concluded a swift intra-day execution to capitalize on the market window and lock in long term funding at an attractive cost.”

According to Srikanth, repeat investors participated in the transaction which was supplemented by new high quality investors including central banks and real money accounts.

The company said that the investors included Bank of America Merrill Lynch, Citigroup Global Markets, The Hongkong and Shanghai Banking Corporation.
Agency: IANS

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