Reliance Industries Ltd.

Reliance Industries (RIL) has raised $200 million through 20-year bonds. The notes have been issued at par and will bear a fixed interest rate of 5 per cent per annum with interest payable semi-annually in arrears.

These notes, denominated in dollar, have been issued primarily to Taiwanese life insurance companies and are proposed to be listed on Taipei Exchange. Such notes are commonly known as Formosa bonds. This has been the first ever Formosa bond issuance by an energy company globally and the longest tenor Formosa bond issuance by a corporate out of Asia.

Deutsche Bank AG, Taipei Branch and HSBC Bank (Taiwan) acted as joint book-runners and lead managers on the transaction. Morgan Stanley acted as the structuring agent on the transaction.