reliance industries

Two days after India's sovereign upgrade by Moody's, Reliance becomes the first lender to take advantage.

The Indian oil and gas group raises a $750 million 30-year bond, its second debt offering in two weeks, riding on improved market sentiment.

Banks, in turn, are looking to get more bang for their buck by cross-selling bonds and equity with loans.

The $800 million senior perpetual bond offers no step-up in coupon or rate reset.

The flagship Indian company taps unfulfilled demand from US funds seeking a meaningful exposure to its credit.

Shui On Land and China Overseas Land also join the bond rush as market momentum continues to support issuance.

Indonesia is targeting a dollar bond launch in January, while Mongolian banks plan issuance. Reliance Industries and Korea Telecom may tap sooner.

Mukesh Ambani becomes the first non-American on the board of directors of Bank of America.

Indian petrochemicals company Reliance Industries finally seals a cross-border M&A deal, buying a 40% interest in a 300,000 acre natural gas field owned by Pennsylvania-based Atlas Energy Resources.