Reliance Industries Ltd (RIL) has raised $4 billion (around Rs 30,000 crore) in the largest bond issue by an Indian company in the overseas market.
The bonds — called unsecured notes — were nearly 3 times oversubscribed with a peak orderbook aggregating $11.5 billion and were priced through RIL’s secondary curve. “The notes have been priced at 120 basis points, 160 basis points and 170 basis points over the respective US Treasuries benchmark,” RIL said.
RIL said it was the tightest ever implied credit spread over the respective US Treasury across each of the 3 tranches by an Indian corporate.
