RIL’s US unit raises $500 mn via bonds | business | Hindustan Times
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RIL’s US unit raises $500 mn via bonds

business Updated: Feb 24, 2012 20:35 IST
HT Correspondent

Mukesh Ambani-led Reliance Industries Ltd on Friday told the Bombay Stock Exchange (BSE) that its wholly-owned subsidiary Reliance Holding USA has raised $500 million (Rs 2,463 crore) by selling bonds to foreign investors.

The additional notes will be consolidated and form a single series with the $1,000 million 5.4% guaranteed senior notes due by 2022 (the ‘Notes’) and will be fully and unconditionally guaranteed by RIL.

The statement added that the transaction was over-subscribed by 7.5 times with an order book aggregating $3.7 billion from high quality investor accounts.

“The additional notes priced at 325 basis points over the 10-year US treasury note, at a price of 101.018% to yield 5.267%. The additional notes will bear fixed interest of 5.400% per annum, with interest payable semi-annually in arrears,” the company said.