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Funding and debt● Neutral for Reliance Industries
SBI leads demand, snaps up 40% of Reliance Industries’ ₹13,000 crore bond issue
The brief
- SBI bought nearly ₹5,000 crore, or about 40%, of Reliance Industries’ ₹13,000 crore bond issue
- SBI’s large subscription signals demand for Reliance Industries debt and affects PSU bank exposure
- RBI forex swaps open lower-cost dollar funding route for Indian firms
- Reliance’s ₹13,000 crore bond issue draws strong demand; SBI said to be largest investor
- CleanMax raises ₹2,500 crore via Green Bonds
- Clean Max shares change hands in ₹1,199 crore block deal; company raises ₹2,500 crore via green debt
- Corporate debt maturities set to test US borrowers as rates rise