RIL raises $1 billion in US through bonds

Reliance Industries (RIL) on Friday said it has raised $1 billion through guaranteed senior notes of a 10-year maturity, at an interest of 5.4%, payable semi-annually.The bonds, denominated in dollars, were priced at 345 basis points over the 10-year US Treasury note, at a price of 99.481%, which would yield 5.468%. The money was raised through RIL’s wholly-owned subsidiary Reliance Holding USA Inc and is the first corporate bond issuance this year. The money, RIL said in a release, would be used to fund ongoing capital expenditure, make business investments, refinance existing debt and for general corporate purposes.

Source: Financial Express