Reliance Industries’ (RIL) telecom arm -- Reliance Jio Infocomm -- is reportedly planning to raise about Rs 2,000 crore from bond market with a coupon of 8.7 percent. The bonds will come with a three year tenor. The company will receive subscriptions whoever bids at 8.7 percent.
Reliance Jio had recently raised $500 million through a syndicated Samurai loan from three Japanese banks, including Bank of Tokyo-Mitsubishi UFJ (MUFG), Sumitomo Mitsui Banking Corporation (SMBC) and Mizuho Bank, The floating-rate loan is for a seven-year period.
RIL is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
