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RIL plans to raise up to $3 billion through redeemable non-convertible debentures

June 12, 2018

Reliance Industries Limited (RIL) is planning to add as much as $3 billion to borrowings to meet the group’s funding and investment requirements, including for its telecom venture Reliance Jio Infocomm Limited.

RIL will seek approval to issue redeemable non-convertible debentures at its July 5, 2018 shareholder meeting in Mumbai.

According to Bloomberg, RIL has total debt of about $33 billion, more than half of which is due for repayment by 2022. Its debt has tripled over five years as it invested $37 billion in Reliance Jio Infocomm Limited (RJIL) and to bolster its petrochemicals business.

Its latest plan extends a strategy of raising cheaper debt on the back of good ratings, while also actively investing about $12 billion in reserves to generate returns.

 
 

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