Reliance Industries (RIL) has raised USD 800 million, by selling 10-year bonds. The money raised will be used by the company to refinance its existing debt and this was the first dollar note this year.

As per the company, the bonds were priced at 3.66%, which is the lowest coupon achieved by any Indian corporate for a 10 year issuance. Further, the notes were more than 1.6 times oversubscribed across 90 accounts.

Moreover, they will bear fixed interest of 3.66% per annum, with interest payable semi-annually in arrears and shall rank pari passu with all other unsecured and unsubordinated obligations of the company.

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