Reliance raises $4 bn via foreign currency bonds at finest rate

India's largest-ever foreign currency bonds issue gives strong base for India Inc's fundraising efforts in 2022

India Inc’s overseas fundraising at the start of 2022 began on a strong note with Reliance Industries mopping up $4 billion through debt, the largest-ever foreign currency bonds issuance by an Indian entity. Reflecting strong momentum, some Indian companies like Shriram Transport Finance and unit of ReNew Power are already in the international market and others have bond offerings in pipeline to raise upto $7 billion-$8 billion in January 2022.

RIL issue was nearly three times oversubscribed with a peak order book aggregating $11.5 billion and was priced through RIL's secondary curve. The firm raised $1.5 billion at a coupon