Reliance’s Treasury Team Strikes Novel Financing Deals Despite Challenging Market Conditions In FY24; RIL Maintains Credit Rating Above Sovereign.

Mumbai, 7th of August, 2024 : Reliance’s treasury team strikes novel financing deals despite challenging market conditions in FY24; RIL maintains Credit Rating above sovereign

• Despite challenging market conditions in FY24, RIL and its subsidiaries successfully raised financing across various markets, currencies, and financial products at competitive cost to finance capital expenditure, support business expansion, and re-finance maturing debt.
• RIL issued Rs 20,000 crore 10-year non-convertibledebentures (NCD), markingthe largest single-tranche NCD issuanceby a non-financial entity in Indiancapital markets, and the second largestissuance ever in terms of size.
  • The NCDswere issued at rates which were RIL’slowest coupon ever and at the tightestspread over sovereign credit.
• Through Offshore FacilitiesRIL raised Syndicated Term LoanFacilities of US$ 4.45 billionequivalent in two dealsduring FY24.
  • US$2 billion equivalent facilitieswere secured by the Companyand its subsidiary, Reliance JioInfocom Limited (RJIL), to financecapital expenditure.
  • US$2.45 billion equivalentfacilities were arranged torefinance maturing debt. Thistransaction was well-subscribedin the primary syndicationmarket from global lendersacross geographies.
• Reliance also tied up with Export Credit Agencies (ECA)of different countries to raise funding for US$ 2.83 billion equivalent during the year.
  • RJIL secured US$ 2.2 billionequivalent facilities to financeequipment and services for itspan-India 5G rollout comprising firstever Finnish Export Credit Agency(Finnvera) supported facilities ofUS$ 1.6 billion equivalent andUS$ 0.6 billion equivalent facilitiesfrom Canadian Export CreditAgency (EDC).
  • The Company tied-up KoreanExport Credit Agency (K-EXIM)supported facilities aggregatinga US$ 625 million equivalentto finance the purchase ofFloating, Production, Storage andOffloading (FPSO) vessel in the Oil& Gas business.
• RIL continues to be rated two notches above sovereign by S&P and one notch abovesovereign by Moody’s

Source: RIL Annual Report 2023-24

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