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Reliance bumps up ₹18,000cr ABS offering to ₹21,000cr
Reliance Industries just bumped up its asset-backed securities offering from ₹18,000 crore to about ₹21,000 crore thanks to strong investor interest.
These notes come with a 7.75% coupon rate, and Barclays is arranging the deal.
Big players like ICICI Prudential Mutual Fund and other domestic asset managers are expected to join in.
Deal backed by cash flows from Reliance's core businesses
This could become one of India's biggest securitization deals, backed by cash flows from Reliance's core businesses.
The four-year term makes it a good fit for mutual funds looking for shorter investments.
Reliance is using this move to make the most of market demand and diversify its funding options—demonstrating how Reliance is diversifying its funding options.