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6Th September 2016
Reliance Capital, a part of the
Anil-Ambani-led group, on Tuesday said it has raised USD 300 million through
private placement of debentures with a tenure of 5 and 10 years. The Total Investment
& Insurance Solutions
"The issue size offered was $
150 million with an option to retain oversubscription by way of a greenshoe
option of up to $150 million). The issue was fully subscribed, including the
greenshoe option, and will be listed," the company said in a regulatory
filing.
The Total Investment & Insurance Solutions
"The funds will be used to
refinance existing debt and grow our lending business. Our debt-equity remains
at a conservative 1.7 -- among the lowest in the non-banking financial services
sector," said Sam Ghosh, Executive Director and Group Chief Executive of
Reliance Capital.
"We will continue to maintain a
healthy asset liability mix, and provide optimally priced funds for our high
growth lending businesses." The Total Investment & Insurance
Solutions
The secured redeemable
non-convertible debentures have an annual coupon rate of 8.9 per cent for 5
years, and 9 per cent for 10 years.The Total Investment & Insurance
Solutions
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