SINGAPORE, Jan 29 (IFR) - Indian conglomerate Reliance
Industries has launched its US dollar denominated senior perp
non-call 5 Reg S/144 a bond at 5.875% with a USD800m size.
The final yield is right in line with final guidance
released yesterday of 5.875% area and tight to initial price
talk of 6% area.
Bank of America Merrill Lynch, Citigroup, HSBC, Barclays,
Deutsche Bank, JP Morgan and The Royal Bank of Scotland are
leads on the deal. The issue would be under New York law and
listing will be in the Singapore stock exchange.
The notes are expected to be rated Baa2 by Moody's and BBB
by S&P. Proceeds are meant for ongoing capital expenditure in
the infrastructure sector in compliance with RBI and Indian
regulations. Coupons are not deferrable.