Reliance Industries raises $4 billion in India’s biggest forex bond deal
Reliance Industries Ltd has raised $4 billion in US dollar bonds, in the country’s largest ever foreign currency bond deal, according to a term sheet seen by Reuters.
The conglomerate raised $1.5 billion in a 10-year tranche, $1.75 billion in a 30-year and $750 million in a 40-year deal.
Orders for the deal reached $7.25 billion and each of the tranches was primarily bought by Asian investors, the term sheet showed.
It was the largest ever foreign currency bond transaction in India, according to Dealogic figures, eclipsing the previous record set by ONGC Videsh in 2014 when it raised $2.2 billion in US dollar bonds.
