Mumbai:Reliance Industries (RIL) Wednesday said that it has raised $750 million through the issuance of unsecured notes due 2045.

This is the second time in less than two weeks that Reliance Industries has raised funds from the overseas debt market.

The company said that it will use the funds for its ongoing capital expenditure.

\"We are delighted to continue to lead the way for Asian corporates to access long-term financing at attractive rates,\" V. Srikanth, joint chief financial officer of RIL, said in a statement.

\"Like our previous issuances, we were able to efficiently execute through an intraday
window, despite volatility in asset markets.\"

The company said that the notes which will be denominated in US dollars bear fixed interest of 4.875 percent per annum with interest payable semi-annually in arrears.

\"The Notes have been priced at 262.5 basis points over the 30-year US Treasury Note, at a price of 98.865 to yield 4.948 percent,\" the statement said, adding that notes were over-subscribed 3.07 times across 167 accounts.

The statement added that in terms of geographic distribution, the notes were distributed 47 percent in Asia, eight percent in Europe and 45 percent in the US.

In terms of investor distribution, the notes were distributed to high quality fixed income accounts: 52 percent to fund managers, 31 percent to insurance companies, eight to pension funds, six percent to central banks and sovereign wealth funds, two percent to banks and one percent to private banks.

On Jan 22, the company had raised $1 billion by selling 10-year bonds at an interest rate of 4.125 percent, the lowest in Asia and with almost no new-issue premium.

RIL raises $750 mn through unsecured notes