RIL brings $7 bn forex bonds on India INX in largest listing by pvt firm

The listing includes the $4 billion jumbo bonds raised in January, which was termed as the largest ever foreign currency bond issuance in South East Asia

Reliance Industries Limited listed their existing foreign currency bonds of over $7 billion on India INX becoming the largest such listing by a private entity in India INX and GIFT IFSC.

The listing includes the $4 billion jumbo bonds raised in January 2022, which was termed as the largest ever foreign currency bond issuance in South East Asia.

“We are delighted to list our existing foreign currency bonds, including the recent landmark US$4bn Jumbo bond issuance, at the India INX,” Srikanth Venkatachari, Joint Chief Financial Officer, RIL said in a statement.

“The listing framework and the seamless process is comparable with what is offered at any global financial centre. We look forward to a long-term association with India INX,” Venkatachari added.

In January, the Mukesh Ambani led conglomerate raised $4-billion via bonds at finer rates, which was subscribed by global players like Fidelity, Blackrock, Metlife, AIA, Lombard Odier, Eastspring, Neuberger Berman, among others. The $4-billion issue was raised in three tenors – 10 year, 30 year and 40 year.

“This is a proud moment for us as we welcome Reliance Industries Limited on India INX, this being the first such access of Reliance Industries in seeking services from our very own IFSC,” V Balasubramaniam, MD and CEO, INDIA INX said in a statement.

Balasubramaniam hoped that this listing would prompt various other corporates to follow suit.

“With this, our total bond listings are now over USD 41+ Billion with the total medium- term notes established to the tune of USD 58+ Bn, making our Exchange the platform of choice for issuers of foreign currency bonds,” Balasubramaniam said. (End)