By Christine Van Dusen
Atlanta, Oct. 14 - Reliance Holding USA Ltd. priced $1.5 billion of notes due 2020 and 2040 via Bank of America Merrill Lynch, Citigroup, HSBC and RBS, an informed market source said.
The deal included $1 billion 4½% notes due Oct. 19, 2020, which priced at 99.538 to yield 4.558%, or Treasuries plus 205 basis points. The tranche was whispered to yield in the low 200 bps area.
The company also sold $500 million 6¼% notes due Oct. 19, 2040 at 99.024 to yield 6.323%, or Treasuries plus 240 bps. The notes were whispered to yield in the mid-200 bps area.
The Rule 144A and Regulation S transaction includes a change-of-control put at 101%.
The notes are guaranteed by India-based parent Reliance Industries Ltd., an energy and petrochemical company based in Mumbai.
| Issuer: | Reliance Holding USA Ltd.
|
| Guarantor: | Reliance Industries Ltd.
|
| Amount: | $1.5 billion
|
| Description: | Senior unsecured notes
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup, HSBC, RBS
|
| Change-of-control put: | 101%
|
| Trade date: | Oct. 14
|
| Settlement date: | Oct. 19
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | Oct. 19, 2020
|
| Coupon: | 4½%
|
| Price: | 99.538
|
| Yield: | 4.558%
|
| Spread: | Treasuries plus 205 bps
|
| Price talk: | Whispered at low 200 bps area
|
|
|
| 30-year notes
|
| Amount: | $500 million
|
| Maturity: | Oct. 19, 2040
|
| Coupon: | 6¼%
|
| Price: | 99.024
|
| Yield: | 6.323%
|
| Spread: | Treasuries plus 240 bps
|
| Price talk: | Whispered at mid-200 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
