Reliance Industries Markets Increase of 2022 Dollar Bonds
Reliance Industries Ltd. (RIL) plans to sell as much as $500 million more of its February 2022 bonds, according to a person familiar with the matter.
The bonds are being offered to investors to yield about 340 basis points, or 3.4 percentage points, more than similar- maturity Treasuries, said the person, asking not to be identified because the details are private.
Barclays Plc, Citigroup Inc. and HSBC Holdings Plc are managing the sale, which will take place today, the person said.
A Mumbai-based Reliance spokesman, who declined to be named citing company policy, confirmed that the company was marketing dollar debt when contacted by phone today.
The owner of the world’s largest refining complex sold $1 billion of 5.4 percent 2022 bonds on Feb. 9 at a spread of 345 basis points, according to data compiled by Bloomberg.
The company has the equivalent of $1.07 billion of bonds maturing before the end of 2017, according to Bloomberg data.
To contact the reporter on this story: Rachel Evans in Hong Kong at revans43@bloomberg.net
To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net
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