RIL’s perpetual bonds get Moody’s medium grade rating

Our Bureau Updated - November 20, 2017 at 08:22 PM.

Moody’s Investors Service has assigned a Baa2 rating (provisional) for Reliance Industries Ltd’s unsecured perpetual bonds offering launched in Hong Kong and Singapore markets on Monday.

The outlook on this rating is stable, Moody’s Investors Service said in a statement.

RIL is looking to raise at least $500 million through the overseas offering of perpetual bonds, it is learnt.

A perpetual bond is a bond with no maturity. It pays coupons forever and the issuer does not have to redeem them. The final amount that would be mopped up will depend on the investor appetite for such bonds.

A Baa2 rating (for long-term rating) indicates that the instrument is rated as medium grade, with some speculative element and moderate credit risk.

>Srivats.kr@thehindu.co.in

Published on January 28, 2013 09:44