Advanced Theory & Practice of Bonds

IBF Recognized Under FTS
1-2 December 2021

Two-day immersive course on bonds designed for private bankers and advisors. 90% funding* available to eligible company-sponsored candidates.

Reliance Retail Ventures (RRVL) has extended the deadline by six months to complete its $3.4bn deal with the Future Retail. RRVL revised the timeline for the ‘long stop date’ (Term of the Day, explained below) to September 30 2021 from March 31 2021. The deal which seemed to sail through after the CCI and SEBI’s approval, was awaiting the NCLT’s approval before getting to the final steps. But Amazon’s plea to seek enforcement of the Singapore arbitrator’s decision saw the Delhi High Court block the acquisition.

Separately, Reliance Industries said it secured the approval of its shareholders and creditors to hive off its oil-to-chemical (O2C) business into a separate unit. Saudi Aramco is reportedly in discussions with Reliance to buy a 20% stake in the O2C business.

Future Retail’s USD 5.6% 2025s were down 0.1 to 82.63, yielding 11.36%.

For the full story, click here

Show Buttons
Hide Buttons