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Reliance Industries Ltd Announces Pricing Of USD800 Million 5.875% Senior Perpetual Notes

Wednesday, 30 Jan 2013 12:52am EST 

Reliance Industries Ltd announced that it has priced a Rule 144A/Regulation S offering of USD800 million 5.875% Senior Perpetual Notes (the Notes). The Notes shall rank pari passu with all other unsecured and unsubordinated obligation of the Company. The Noted have no fixed maturity date and the Company will have an option, from time to time, to redeem the Notes, in whole or in part, on any semi-annual interest payment date on or after February 05, 2018 at 100% of the principal amount plus accrued interest. The notes have been priced at par to yield fixed interest of 5.875% per annum, with interest payable semi-annually in arrears. There is no coupon step up or rate reset in the pricing of the notes. RIL will apply the net proceeds to fund its ongoing capital expenditure in the infrastructure sector, in compliance with Reserve Bank of India regulations. The transaction was about 4 times over subscribed with an order book of close to USD3 billion from high quality investor accounts. 

Company Quote

2.2 +0.25%
26 Dec 2014