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REFILE-Reliance Industries hires banks for dollar bond
December 8, 2014 / 3:52 AM / 3 years ago

REFILE-Reliance Industries hires banks for dollar bond

(Corrects S&P rating, updates list of banks)

By Frances Yoon

HONG KONG, Dec 8 (IFR) - Reliance Industries has selected 11 banks for a 144A/Reg S US dollar-denominated bond offering, which could hit the markets as early as tomorrow.

Bank of America Merrill Lynch, HSBC and Standard Chartered are the joint global co-ordinators, and will also be working as bookrunners with ANZ, Barclays, BNP Paribas, Citigroup, Credit Agricole, Deutsche Bank, JP Morgan, Morgan Stanley and RBS among the banks selected for the transaction.

The size of the offering is expected to be at least US$1bn and sources said the issue could come as a 10-year bond. Reliance Industries, which is rated Baa2/BBB+/BBB-, decided not to launch today to wait for the impact of non-farm payrolls to settle in credit markets. frances.yoon@thomsonreuters.com (Reporting by Frances Yoon, editing by Dharsan Singh)

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