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Reliance Communications has appointed DBS and Standard Chartered as joint global co-ordinators for an offering of senior secured US dollar bonds.
Investor meetings will kick off in Asia and Europe on Monday.
The issuer is returning to the international bond markets after pulling its debut $255m five-year non-call three Reg S offering in December, which was marketed to yield around 6.5%. At the time, the bonds and the issuer were unrated.
This time around, Reliance Communications has ratings of Ba3 from Moody's and BB- from Fitch, both with stable outlooks.
Deutsche Bank was the sole global co-ordinator on the earlier offering and joint bookrunner with Standard Chartered.
The company is part of the Anil Dhirubhai Ambani-owned Reliance Group and one of India's largest business groups in terms of market capitalisation. Its operations include sectors in infrastructure, power, financial services and entertainment.
Reliance Communications stock was trading at Rs 71.55, up 1.56 per cent or Rs 1.10 on the NSE at 10.50 am.
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