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Reliance Industries has selected 11 banks for a 144A/Reg S US dollar-denominated bond offering, which could hit the markets as early as tomorrow.
ANZ, Bank of America Merrill Lynch, Barclays, BNP Paribas, Credit Agricole, Deutsche Bank, HSBC, JP Morgan, Morgan Stanley, RBS and Standard Chartered are among the banks mandated.
The size of the offering is expected to be at least US$1bn and sources said the issue could come as a 10-year bond. Reliance Industries, which is rated Baa2/BBB-/BBB-, decided not to launch today to wait for the impact of non-farm payrolls to settle in credit markets.
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