RIL raises $750m from overseas bond issue

NEW DELHI, Feb 4 (PTI): Reliance Industries today raised $750 million (about Rs 4,624 crore) through a 30-year overseas bond issue, just a fortnight after it raised $1 billion in India's first such bond of the year.
The issue carried a coupon of 4.875 per cent, which is the lowest achieved by an Asian private corporate issuer in the 30 year bucket. RIL priced its latest Reg S/144A bond at Treasuries plus 262.5 basis point, which is 22 basis point tighter than its initial price offering.
RIL had on January 22 raised $1 billion by selling 10-year bonds at an interest rate of 4.125 per cent, which the company claimed was the lowest in Asia and with almost no new-issue premium. It had raised over USD 3.3 billion in forex debt last year.
Today's bond issue is the "first ever single tranche 30-year deal by a private corporate issuer out of Asia," the company said in a statement, adding that it carried lowest coupon ever achieved by an Asian private corporate issuer for a 30-year issuance.
RIL is the only company out of India to have issued 30 year bonds.
Order books for the issue reached $2.3 billion from more than 160 accounts, with 47 per cent of the notes going to Asian investors, 45 per cent to US investors and the remainder to European accounts.