Jio Finance Plans Debut Rupee Bond Sale of $118 Million

Jio Finance Ltd., a shadow lender owned by Asia's richest businessman Mukesh Ambani, is planning to raise as much as ₹1,000 crore ($118 million) in the onshore market through its first ever bond sale, according to people familiar with the matter.

- Bloomberg

The company plans to raise the funds through a note due in March 2028, the people said, asking not to be identified. The bond will have a coupon of 7.19% and the financier is likely to seek bids for the issuance next week, they said.