Reliance Industries Ltd.

Reliance Industries, one of the biggest private sector companies in India, is reportedly planning to raise $1.5 billion through external commercial borrowings (ECB) to refinance its old loans. The company will raise the loan in two tranches - $1.36 billion in US dollars and $140 million in Japanese yen. The maturity of the bonds would be 43 months from the date of issue.  Recently, the company had raised $225 million through 10-year bonds. The notes have been issued at par and will bear a fixed interest rate of 2.512 per cent per annum with interest payable semi-annually in arrears and shall rank pari passu with all other unsecured and unsubordinated obligations of the company.

Reliance Industries (RIL) is India’s largest private sector company, with a consolidated turnover of Rs 3,88,494 crore ($ 62.2 billion), cash profit of Rs 36,291 crore ($ 5.8 billion) and net profit of Rs 23,566 crore ($ 3.8 billion) for the year ended March 31, 2015. RIL is the first private sector company from India to feature in Fortune’s Global 500 list of ‘World’s Largest Corporations’ and continues to be featured for the 11th consecutive year, currently ranking 114th in terms of revenues and 155th in terms of profits.