Reliance plans Rs.10,000-Cr securitisation deal

The Reliance Group is planning to raise INR 10,000 crore through an asset-backed securities (ABS) transaction. The deal is expected to have a minimum size of INR 5,000 crore and an option to retain subscriptions for an additional INR 5,000 crore. Barclays is acting as the arranger for the transaction.The proposed securities are backed by rental receivables from group entities, including Reliance Jio Infocomm. The notes are structured with a five-year maturity and are expected to carry a coupon in the range of 8.35% to 8.40%. This transaction follows other recent capital-raising activities by the group, including a INR 12,000 crore bond issuance in mid-September.