RIL raises $4 bn in largest-ever foreign currency bond

The company said that interest on the Notes will be payable semi-annually in arrears and the Notes shall rank pari passu with all other unsecured and unsubordinated obligations of RIL.

The bond proceeds will be primarily used for refinancing the existing borrowings.

In a statement, RIL noted that the transaction is significant as it is the largest ever foreign currency bond issuance from India.

"The Notes were nearly 3 times oversubscribed with a peak order book aggregating $11.5 billion and were priced through RIL’s secondary curve," said RIL.

The Notes received orders from over 200 accounts in Asia, Europe and the US.

“The support received from the marquee international capital market investors is reflective of the strength of our underlying businesses with established growth platforms across energy, consumer and technology as well as robustness of our balance sheet. This issue continues the tradition of Reliance being a sophisticated and innovative issuer across the capital structure,” said Srikanth Venkatachari, Joint Chief Financial Officer of RIL

BoFA Securities, Citigroup, and HSBC acted as Joint Global Coordinators. BofA Securities, Citigroup, HSBC, Barclays, JP Morgan and MUFG acted as Joint Active Bookrunners. ANZ, BNP PARIBAS, Crédit Agricole CIB, DBS Bank Ltd., Mizuho Securities, SMBC Nikko, Standard Chartered Bank and State Bank of India, London Branch acted as Joint Passive Bookrunners.