REL raises $150mn through debt placement in US
New Delhi: Reliance Energy controlled by Anil Ambani has raised $150 million through private placement of debt in the US.

This is the first private placement by an Indian utility company of unrated bonds or notes in the US. The placement was concluded with US institutional investors such as Northwestern Mutual, Principal, Delaware, Guardian, Swiss Re, Pacific Life.

The proceeds from the financing would be utilised for meeting the capital expenditure requirements of the company.

The fixed rate notes are unsecured and repayable after ten years. The deal was arranged by ABN Amro.

REL, with aggregate estimated group revenues of Rs10,500 crore and total assets of Rs 10,800 crore generates 941 megawatt of power from its power plants in Maharashtra, Andhra Pradesh, Kerala, Karnataka and Goa, the release said.
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Goldman likely to commit Rs200-crore in Piramal fund
Gurgaon: Goldman Sachs is likely to finalise an investment of Rs200 crore in the Ashok Piramal-promoted Peninsula Realty Fund (PRF).

According to industry sources the two companies are likely to ink a deal early next month. PRF is floating a Rs1,500 crore special purpose vehicle (SPV) to invest in FDI compliant real estate and infrastructure projects in India. It is learnt that Goldman Sachs will make its investment in this SPV.

PRF was formed by the Ashok Piramal group with the objective of promoting investments in the burgeoning Indian real estate sector. The company plans to float two separate schemes.

While one of the proposed schemes will take contributions only from domestic investors, the other scheme will undertake investments in FDI compliant SEZ and industrial parks projects.

Goldman Sachs is bullish about the real estate business in India. Earlier this year, the company went solo in India breaking a decade-long alliance with Kotak Mahindra.
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