Reliance Industries (RIL) touched an intraday high of Rs 1,067.50 and an intraday low of Rs 1,052.05. At 09:27 hrs the share was quoting at Rs 1,062.35, up Rs 4.10, or 0.39%.
The company has raised $ 1.5 billion in dual tranche Long Term bond issue. RIL raised $ 1 billion via 10-year, 4.5% with spread of T+200 and $ 500 million via 30-year, 6.25% with spread of T+240. RIL's fund raising is under 144A Reg S Bond Issuance. The funds are raised by Reliance Holdings USA, guaranteed by RIL.
This is the largest ever offshore fund raising by RIL since 1997. Sources said that RIL bond issue was subscribed 7.8x. The 10-year demand was 25% in Asia, 21% in Europe & 54% in US while 30-year demand was 27% in Asia, 18% in Europe and 55% in US. Citigroup, RBS, BoAML, HSBC were the bankers to RIL bond issue, sources added.
It was trading with volumes of 67,413 shares. Yesterday the share closed down 1.30% or Rs 13.90 at Rs 1,058.25.
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