By Sarah Lizee
Olympia, Wash., April 17 – India’s Reliance Industries Ltd. has issued Rs. 85 billion of redeemable non-convertible debentures through a private placement, according to a company announcement.
The three-year debentures were issued in two series. The series K1 debentures bears interest at a fixed rate of 7.2%, and the series K2 debentures bear interest at a rate equal to the prevailing repo rate fixed by the Reserve Bank of India and the applicable spread of 280 basis points.
Reliance is a conglomerate based in Mumbai.
| Issuer: | Reliance Industries Ltd.
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| Issue: | Redeemable non-convertible debentures
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| Amount: | Rs. 85 billion
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| Maturity: | April 17, 2023
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| Coupon: | 7.2% for series K1 debentures, repo rate fixed by the RBI plus 280 bps for series K2 debentures
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| Allotment date: | April 17
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| Ratings: | Crisil Ltd.: AAA
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| CARE Ratings Ltd.: AAA
|
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