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RIL<\/a> is in talks with at least a dozen banks including Barclays, Citigroup<\/a>, JP Morgan<\/a>, Morgan Stanley and MUFG and plans to launch the formal process to raise funds by mid-February, multiple people with knowledge of the matter told ET. The money could be raised in one or two tranches.
“Initial talks have started. This fundraising<\/a> is for the routine capital expenditure and would ideally be completed before fiscal-end,” said one of the persons.
RIL didn’t respond till press time Tuesday to an email seeking comment. Banks could not be contacted immediately.
“The company is holding individual meetings with each investment banker to assess the situation, with more banks likely to join the syndication process,” said another person.
The offshore loan is expected to be of five-year tenure. It would be priced after adding a spread, or markup, over the London InterBank Offered Rate (LIBOR).
De-leveraging Balance Sheet
<\/strong>
Although the initial price guidance is not yet fixed, the spread is likely to be more than 150 basis points, said a third person involved in the exercise.
In June last year, the company raised $1.85 billion of long-term foreign loans also to fund capital expenditure.
The fresh fundraising comes at a time when India’s largest company by market capitalisation has started de-leveraging its balance sheet by announcing plans to sell stakes in key businesses. The company had announced that it is in talks with Saudi Aramco to sell a 20% stake in its oil and petroleum business while Canadian asset manager Brookfield said it would invest $3.7 billion in its telecom tower business and another $2 billion in gas transportation.
Reliance had total debt of Rs 1.5 lakh crore as on March 31, 2019. Chairman Mukesh Ambani assured shareholders in August 2019 that the company would be a zero net-debt firm in 18 months.
Indian companies raised a record $30.25 billion via bonds and loans in 2019, tapping relatively cheap offshore credit, according to data compiled by Dealogic. Dollar bond issuances touched $20.88 billion in the past year. Companies also availed of foreign currency loans worth $8.36 billion during the year.
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瑞来斯正与至少一打银行包括巴克莱(Barclays)、花旗集团(Citigroup),摩根大通(JP Morgan)、摩根士丹利(Morgan Stanley)和三菱日联金融集团,计划明年2月中旬正式启动筹资进程,多个知情人士告诉等。能够募集到的资金在一个或两个部分。
“初步谈判已经开始。这筹款是常规的资本支出,理想情况下,应该完成fiscal-end之前,”其中一人表示。
瑞来斯没有回应,直到截稿时间周二寻求置评的电子邮件。银行无法立即联系。
”该公司持有个人会见每个投资银行家来评估形势,更多的银行可能加入聚合过程,”另一个人说。
离岸贷款预计将五年的任期。价格会添加一个传播后,或标记,伦敦银行同业拆息(LIBOR)。
去杠杆化资产负债表
虽然最初的价格指导尚未固定,传播可能是超过150个基点,表示第三人参与这项运动。
去年6月,该公司筹集了18.5亿美元的长期外国贷款基金资本支出。
新鲜的筹款正值印度市值最大公司已经开始去杠杆化资产负债表宣布计划出售关键企业的股权。公司已经宣布,它正与沙特阿拉伯国家石油公司出售其石油和石油业务20%的股份,而加拿大资产管理布鲁克菲尔德表示,将投资37亿美元在其电信业务和另外20亿美元的天然气运输塔。
依赖债务总额的1.5十万的卢比3月31日,2019年。董事长穆凯什•安巴尼向股东在2019年8月,该公司将是一个零净债务公司18个月。
印度公司通过债券和贷款筹集创纪录的302.5亿美元在2019年,利用相对廉价的海外信贷,根据Dealogic数据显示。美元债券发行了208.8亿美元在过去的一年。公司也利用价值83.6亿美元的外币贷款。
