Reliance Industries Eyes Rs 10,000 Crore Debt Fundraise Via 10-Year Bonds
· Business · Economic Times, Reuters
Reliance Industries plans to raise approximately 100 billion rupees through the sale of 10-year rupee-denominated bonds at an annual coupon of 7.90%. The oil-to-telecom conglomerate aims to finalise the borrowing before the RBI’s monetary policy meeting on October 7. This follows a recent fundraising of 120 billion rupees through five-year papers at a 7.47% coupon two weeks ago. Large private-sector banks are expected to act as arrangers for the new debt issue and partially subscribe to the bonds. The company is scheduled to invite bids from investors in the coming weeks.
Why it matters
The debt issuance by India's largest private-sector conglomerate signals strong corporate credit demand and liquidity management ahead of the central bank's policy decision.
Read the original report — Economic Times
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