RJIL likely to raise Rs 10 billion through private bonds

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Reliance Jio Infocomm Limited (RJIL) is likely to raise Rs 10 billion through private bonds. The company plans to raise the entire amount through ten-year securities for which the coupon rate may be fixed between 9.25 per cent and 9.35 per cent.

At present, RJIL is in talks with a group of investment bankers to chalk out details of the proposed bond sales. Being an unlisted corporate entity, RJIL will have to maintain a debenture redemption ratio of 25 per cent one year prior to maturity of bonds. As per industry reports, this is not going to be a challenge for the company as it is owned by Reliance Industries Limited, which has deep pockets.