RIL raises $225 million via bond issue

Mukesh Ambani controlled oil and gas giant Reliance Industries (RIL) has raised $225 million through 2.512 per cent notes due 2026 guaranteed by the Export Import Bank (EXIM Bank) of the United States.

The notes are being 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. 

The principal amount of the notes will be payable in consecutive semi-annual installments commencing on July 15, 2016 up to the maturity on January 15, 2026, Reliance Industries said. This is the first ever EXIM Bank guaranteed note issuance globally by a private sector energy company.