Reliance Industries has raised Rs. 4300 crore ($800 million) through issuance of 5.875 per cent Senior Perpetual Notes.
AZB & Partners advised Reliance with a team led by Partners Shuva Mandal and Varoon Chandra along with Associate Manan Mehta.
J. Sagar Associates advised the Joint Bookrunners with a team led by Partner Dina Wadia along with Senior Associate Uttara Kolhatkar while Shearman & Sterling acted as International legal counsel to the Joint Bookrunners with a team led by Partner Kyungwon (Won) Lee.
The Joint Bookrunners included Barclays Bank PLC, Citigroup Global Markets Inc., Deutsche Bank AG, Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities plc, The Hongkong and Shanghai Banking Corporation Limited, and The Royal Bank of Scotland plc.
The money has been raised to fund its capital expenditure plan to expand petrochemicals business and ramp up oil and gas exploration in the next three to four years. This is the first issuance of perpetual bond below 6 per cent in the world, reports Business-Standard.