RIL Announces Pricing of US$ 750 Million 4.875% Senior Unsecured Notes Due 2045

Reliance Industries Limited (“RIL” or the “Company”) today announced that it has priced a Rule 144A/Regulation S offering of US$ 750 million 4.875% Senior Unsecured Notes due 2045 (the “Notes”).

The Notes have been assigned a rating of BBB+ (S&P) and Baa2 (Moody’s).  

Transaction Highlights:

· RIL continues to be the only Reg S / 144A 30 year private corporate issuer out of Asia since 2003

· Lowest coupon ever achieved by an Asian private corporate issuer for a 30 year issuance

· First ever single tranche 30 year deal by a private corporate issuer out of Asia

· Opened the 30 year market for corporate issuances out of Asia in 2015

· Continues to be the only company out of India to have issued 30 year bonds

The Notes have been priced at 262.5 basis points over the 30-year US Treasury Note, at a price of 98.865 to yield 4.948%.  The Notes will be denominated in US dollars, and will bear fixed interest of 4.875% p.a., with interest payable semi-annually in arrears and shall rank pari passu with all other unsecured and unsubordinated obligations of the Company. The funds will be utilized for its ongoing capital expenditure.

The Notes were over 3.07 times over-subscribed across 167 accounts.

In terms of geographic distribution, the Notes were distributed 47% in Asia, 8% in Europe and 45% in the United States. In terms of investor distribution, the Notes were distributed to high quality fixed income accounts: 52% to fund managers, 31% to insurance companies, 8% to pension funds, 6% to central banks and sovereign wealth funds, 2% to banks and 1% to private banks.

Mr. V. Srikanth, Joint Chief Financial Officer of RIL, commented, “We are delighted to continue to lead the way for Asian corporates to access long-term financing at attractive rates. Like our previous issuances, we were able to efficiently execute through an intra-day window, despite volatility in asset markets.”

Bank of America Merrill Lynch, Barclays Bank PLC, Citigroup Global Markets Inc. and The Hongkong and Shanghai Banking Corporation Limited acted as Joint Book runners and Lead Managers.

These materials are not for distribution (directly or indirectly) in or to the United States, New Zealand, South Africa or Japan or India. They are not an offer for sale of securities, nor a solicitation to purchase or subscribe for securities, in the United States, New Zealand, South Africa or Japan or any other jurisdiction where such offer, sale or solicitation would be unlawful. Further, these materials do not constitute an offer to the public or by way of private placement of securities in India within the meaning of the Indian Companies Act, 2013, to the extent notified, and the Indian Companies Act, 1956, to the extent not repealed, or any other applicable statutes, rules and regulations of India. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state of the United States or other jurisdiction, and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements under the Securities Act.  The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States.

About RIL:

Reliance Industries Limited (RIL) is India’s largest private sector company, with a consolidated turnover of Rs.4,46,339 crore (US$ 74.5 billion), cash profit of Rs. 33,980 crore (US$ 5.7 billion) and net profit of Rs. 22,493 crore (US$ 3.8 billion) for the year ended March 31, 2014.

RIL is the first private sector company from India to feature in Fortune’s Global 500 list of ‘World’s Largest Corporations’ and continues to be featured for the 11th consecutive year, currently ranking 114th in terms of revenues and 155th in terms of profits. RIL ranks 194th in the Financial Times’ FT Global 500 2014 list of the world’s largest companies. As per Newsweek’s Green Rankings 2014, RIL is India’s greenest and most environment-friendly company, ranking 185th among the world’s largest 500 companies.