Reliance Industries $4 billion senior notes offering
We advised Reliance Industries on its investment-grade debt offering
Davis Polk advised Reliance Industries Limited on its Rule 144A / Regulation S offering of $1.5 billion aggregate principal amount of 2.875% senior notes due 2032, $1.75 billion aggregate principal amount of 3.625% senior notes due 2052 and $750 million aggregate principal amount of 3.750% senior notes due 2062.
Reliance is India’s largest private sector company, with a consolidated turnover of $73.8 billion and net profit of $7.4 billion for the year ended March 31, 2021. Reliance’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.
The Davis Polk corporate team included partner Leo Borchardt, counsel Connie I. Milonakis and associates Christopher Diel and Sana Bargach. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Counsel Sarah E. Kim and Sijia Cai provided 1940 Act advice. Members of the Davis Polk team are based in the London and New York offices.