RIL may price $1bn bond on Thursday: Sources
Reliance Industries may price as early as Thursday a USD 1 billion 10-year bond that will be used to fund capital expenditure in its US shale gas business, two sources with direct knowledge of the deal said.
February 09, 2012 / 19:46 IST
Reliance Industries may price as early as Thursday a USD 1 billion 10-year bond that will be used to fund capital expenditure in its US shale gas business, two sources with direct knowledge of the deal said.
The company has indicated pricing of 365 basis points over US treasuries for the bonds, which will be issued by Reliance Holding USA, they said.Proceeds will also be used to refinance short-term debt incurred in the shale gas business, the sources said.The deal is being led by Barclays Capital, Bank of America Merrill Lynch, Citigroup, HSBC and UBS, they said.Standard & Poor's has assigned a BBB long-term rating to the senior unsecured notes, which will be guaranteed by Reliance Industries. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
