Major Indian conglomerate Reliance Industries raised $ 4 billion through a bond issue. The company said that it has received that amount in 3 tranches of issuance of the bonds. This is the largest ever bond issue in a foreign currency in India. The Notes were oversubscribed around 3 times.
The company said that it will utilize $ 1.5 billion of the amount to refinance an old debt that is due to mature in February.