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Reliance didn’t give additional particulars on using proceeds. (File)
Reliance Industries Ltd stated it plans to lift as much as $5 billion in dollar-denominated debt and use proceeds primarily to refinance its present borrowings.
The Mukesh Ambani-owned oil-to-telecoms conglomerate stated that the proposal for fastened charge notes, which might be issued in a number of tranches, was accredited by the board in a gathering on Saturday.
Whereas the corporate didn’t give additional particulars on using proceeds, the Financial Occasions newspaper stated it will likely be used refinance earlier debt raised from worldwide buyers, with a bundle of loans arising for maturities within the subsequent three to 4 months.
The newspaper stated the providing could be the biggest offshore elevating by an Indian borrower in a single go, including that the transfer can be debt-neutral to the corporate.
(Aside from the headline, this story has not been edited by NDTV workers and is revealed from a syndicated feed.)
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