Reliance Industries Says Not in Overseas Market to Raise Funds via Bonds

Mumbai: Reliance Industries Ltd (RIL) on Wednesday said it is not in the overseas market to raise about $1 billion through a bond sale.

"Our attention has been drawn to a story circulating in the market and a section of the media to the effect that RIL has hit the overseas debt market to raise $1 billion in bond sale. We would like to point out that this is not true," a company spokesman said in a statement here.

The Mukesh Ambani-led company in April this year tied up $550 million from Japanese investment agency JICA and another $800 million from Korean Exim Bank in September.