Published on 8 Nov 2023 on Reuters via Yahoo Finance
Indian insurers to lead bids for Reliance Industries' mega bond issue - bankers
By Bhakti Tambe and Dharamraj Dhutia
MUMBAI (Reuters) - Reliance Industries' upcoming bond issue, touted to be the second-biggest for an Indian firm, will see strong demand from insurers, with aggressive bidding enabling the conglomerate to borrow at rates that just top the sovereign yield, several merchant bankers said.
The billionaire Mukesh Ambani-led company aims to raise up to 200 billion rupees ($2.40 billion) via 10-year bonds on Thursday, its first such fundraise since May 2020.