J. Sagar Associates (JSA) advised the Joint Bookrunners, in connection with the Issue of US$ 200 million 5% Senior unsecured Callable Notes due 2035 (Formosa Bonds) by Reliance Industries Limited.

The Joint Bookrunners for the transaction were Deutsche Bank A.G., HSBC Bank (Taiwan) Ltd., and Morgan Stanley & Co. International plc.

This is the first Formosa Bonds Issuance by an Indian Company and a first by any Energy company globally. The bonds are listed on the Taipei Exchange.

The JSA team comprised Partners – Dina Wadia & Uttara Kolhatkar; and Associates – Shaswata Dutta & Kartikeya Dar.