Shearman And Sterling

News June 10, 2015

Shearman & Sterling Advises on Reliance’s US$200 Million Formosa Bond Issuance

Shearman & Sterling represented Deutsche Bank AG, Taipei Branch and HSBC Bank (Taiwan) Limited as the underwriters in connection with the Regulation S offering of US$200 million 5% Senior Notes due 2035 in Taiwan, commonly known as Formosa Bonds, by Reliance Industries Limited (“RIL”). Formosa Bonds are bonds issued in Taiwan but denominated in a currency other than the New Taiwan Dollar.

This is the first-ever Formosa Bond issuance out of India and the first-ever Formosa Bond issuance by an energy company globally.

RIL is a Fortune Global 500 company and is the largest private sector company in India. RIL will use the funds for its ongoing capital expenditure.

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