Mumbai: Reliance Industries (RIL) has collected $ 4 billion in the sale of the largest foreign currency bonds by Indian companies.
Recently received council approval to increase up to $ 5 billion in foreign bonds to utilize the low interest rate environment and to refinance existing loans.
Bond issues subscribe to almost three times with a $ 11.5 billion aggregate Peak Order book.
Bonds were purchased by investors from Asia (53%), America (33%) and Europe (14%).
It was the issuance of the biggest foreign currency bonds from India, RIL claimed, profitable a previous record stipulated by Major Energy Ongc Videsh when they raised $ 2.2 billion in dollars recorded in 2014.
Bharti Airtel collected $ 1.25 billion in 2021, which was the biggest debt problem last year.
Jumbo foreign currency bond problems are the largest debt capital market transactions at $ 4 billion and “the most stringent credit spreads in each old tenor for every company in India”, said the Head of Ril Srikanth officials Venkatatchari.
RIL does not divulge the name of the bond customers.
However, industrial sources say customers include Fidelity, Pacific Investment Management Co (PIMCO), Goldman Sachs Asset Management (GSAM), Metlife, Eastspring, Neubergerberman, Blackrock and Lombard.
Bonds will be listed on the Singapore Stock Exchange.
“Although the calendar that competes heavily at the beginning of the year, RIL scored the lowest 30-year coupon that had occurred and the lowest deployment of the 10-year bond of Indian publishers,” said Bank of America India Head Kakhate stiff.