RIL edges higher after pricing senior unsecured notes

Reliance Industries (RIL) rose 0.33% to Rs 942.40 at 12:10 IST on BSE after the company announced that it has priced a Rule 144A/Regulation S offering of $750 million 4.875% Senior Unsecured Notes due 2045.

The company made announcement before market hours today, 4 February 2015.

Meanwhile, the BSE Sensex was down 28.74 points, or 0.1%, to 28,971.40.

On BSE, so far 2.19 lakh shares were traded in the counter, compared with an average volume of 3.98 lakh shares in the past one quarter.

The stock of large-cap diversified firm hit a high of Rs 942.90 and a low of Rs 932.10 so far during the day. The stock hit a 52-week high of Rs 1,142.50 on 16 May 2014. The stock hit a 52-week low of Rs 794 on 28 February 2014.

The Notes have been assigned a rating of BBB+ (S&P) and Baa2 (Moody's). The Notes have been priced at 262.5 basis points over the 30-year US Treasury Note, at a price of 98.865 to yield 4.948%. The Notes will be denominated in US dollars, and will bear fixed interest of 4.875% per annum (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 funds will be utilized for its ongoing capital expenditure.

RIL's consolidated net profit fell 4.5% to Rs 5256 crore on 20.2% fall in total income to Rs 95868 crore in Q3 December 2014 over Q3 December 2013.

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