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Reliance didn’t give additional particulars on using proceeds. (File)
Reliance Industries Ltd stated it plans to boost as much as $5 billion in dollar-denominated debt and use proceeds primarily to refinance its present borrowings.
The Mukesh Ambani-owned oil-to-telecoms conglomerate stated that the proposal for mounted fee notes, which may very well be issued in a number of tranches, was authorised by the board in a gathering on Saturday.
Whereas the corporate didn’t give additional particulars on using proceeds, the Financial Occasions newspaper stated will probably be used refinance earlier debt raised from worldwide traders, with a bundle of loans developing for maturities within the subsequent three to 4 months.
The newspaper stated the providing can be the biggest offshore elevating by an Indian borrower in a single go, including that the transfer can be debt-neutral to the corporate.
(Apart from the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)
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