Shearman & Sterling represented Banc of America Securities LLC, Citigroup Global Markets Inc., The Hongkong and Shanghai Banking Corporation Limited and The Royal Bank of Scotland plc as the initial purchasers in connection with Reliance Holding USA, Inc.’s 144A/Reg S offering of $1.5 billion aggregate principal amount of 4.50% Guaranteed Senior Notes due 2020 and 6.25% Guaranteed Senior Notes due 2040. The Notes are guaranteed by Reliance Industries Limited, India’s largest private-sector company. This offering was the largest-ever corporate bond from India and the first private Indian corporate investment grade issuance since 1997.
The following Shearman & Sterling team advised the initial purchasers in the transaction: partners Kyungwon Lee (Hong Kong-Capital Markets) and Laurence Crouch (Menlo Park-Tax); counsel Hae-Ran Song (Hong Kong-Capital Markets) and Alan Yeung (Hong Kong-Capital Markets); and associates Matthew Harvey (San Francisco-Capital Markets), Minsoo Kwon (Hong Kong-Capital Markets), Eileen O’Pray (Menlo Park-Tax) and Anil Kalia (Menlo Park-Tax).
