RIL bonds advance after Mukesh Ambani hastens debt-reduction plan

The conglomerate's 3.667% bonds due 2027 rose 0.4 cents on the dollar to 100.28 as of 9:10 am IST, the highest level since March 13

Reliance Industries (RIL) bonds gained to reach an almost  two-month high, after the firm announced that the group’s net debt would be slashed to zero, ahead of a previously drawn schedule and talks to sell a stake in its energy unit to Aramco are on course.

The conglomerate’s 3.667 per cent bonds due 2027 rose 0.4 cents on the dollar to 100.28 as of 9:10 am IST, the highest level since March 13, according to prices compiled by Bloomberg. The group’s 4.125 per cent notes due 2025 jumped to the highest level since March 17 to 102.85 cents.

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