Reliance Industries hits forex debt market again with $800-mn issue
RIL has been borrowing heavily for expansion and entry into telecom space with Jio into which it has invested over Rs 1.4 lakh cr LATEST NEWS : Reliance Industries , the most profitable company as also the largest borrower, has hit the overseas debt market with a $800-million bond sale programne as it seeks to pare a portion of its high cost debt that stands at over Rs 2.14 lakh crore. "Reliance has hit the overseas debt market with a $800 million issue," investment banker told PTI, requesting not to be quoted as the issue is yet to be priced and closed. Meanwhile, rating agency Moody's today signed a Baa2 rating to the proposed unsecured bond sale by RIL. The bonds will rank pari passu with RIL's other existing and future unsecured and unsubordinated obligations, it said assigning the Baar rating. It can be noted that for the September quarter, RIL, which has a market capitalisation of close to Rs 6 lakh crore, had a cash pile of Rs 77,014 cror...