Reliance Industries, the Indian conglomerate controlled by billionaire <a href="https://www.thenationalnews.com/business/money/2021/07/18/billionaires-ambanis-reliance-bids-for-indias-solar-subsidies-in-green-push/">Mukesh Ambani</a>, raised $4 billion from a three-tranche US dollar bond issuance, the country's largest foreign currency bond deal that will help it to refinance existing debt. The company raised $1.5bn in a 10-year tranche, $1.75bn in a 30-year tranche and $750 million in a 40-year deal, Reliance said in a<a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/c658b590-5348-4c85-addd-72a73c793ed8.pdf" target="_blank"> statement</a> to the Bombay Stock Exchange, where its shares are traded. “The support received from the marquee international capital market investors is reflective of the strength of our underlying businesses with established growth platforms across energy, consumer and technology as well as [the] robustness of our balance sheet,” said Srikanth Venkatachari, joint chief financial officer at Reliance Industries. “This issue continues the tradition of Reliance being a sophisticated and innovative issuer across the capital structure.” The bond issuance was three times oversubscribed with orders mainly from investors in Asia and the US. The issuance had a peak order book averaging $11.5bn, according to the company. BoFA Securities, Citigroup, and HSBC acted as joint global co-ordinators on the transaction. Sovereign borrowers, government-related entities and corporate issuers are trying to tap into international debt markets to take advantage of low-interest rates. A number of companies from the GCC issued bonds recently to secure new funding. The latest bond issuance from Reliance comes as the company plans to expand its operations globally to boost growth. <a href="https://www.thenationalnews.com/business/energy/2021/10/02/reliance-launches-1m-uae-subsidiary-for-trading-oil-and-petroleum-products/">Last year,</a> it formed Reliance International Limited, a wholly owned subsidiary in the UAE that will trade oil, petroleum, petrochemical products and agricultural commodities. It is also <a href="https://www.thenationalnews.com/business/energy/2021/12/07/taziz-and-reliance-form-joint-venture-to-develop-2bn-ruwais-chemicals-project/">setting up a joint venture </a>with the Abu Dhabi Chemicals Derivatives Company, better known as Ta’ziz, to develop a major chemicals project at the Ta’ziz industrial chemicals zone in Ruwais. Other recent investments by the company include $144m in US energy storage company Ambri along with other investors including Paulson & Co and US billionaire Bill Gates. It also <a href="https://www.thenationalnews.com/business/economy/2021/10/16/ambanis-reliance-buys-stake-in-bollywood-stylist-manish-malhotras-fashion-house/">bought</a> a stake in a high-end fashion brand owned by Indian designer Manish Malhotra last year as part of its expansion plans.