Notes proposed to be listed on Taipei Exchange
Reliance Industries announced that it has priced its Regulation S offering of US$ 200 million 5% Senior Unsecured Callable Notes due 2035 (the Notes).These Notes, denominated in US dollars, have been issued primarily to Taiwanese life insurance companies and are proposed to be listed on Taipei Exchange (formerly known as GreTai Securities Market). Such notes are commonly known as Formosa Bonds.
The Notes are being issued at par and will bear a fixed interest rate of 5% p.a., with interest payable semi-annually in arrears and shall rank pari passu with all other unsecured and unsubordinated obligations of the Company. The Notes will also have an annual call option at par starting 5 June 2020. The funds will be utilized for the Company's ongoing capital expenditure.
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