New Delhi: Reliance Industries today said it has further sold $500 million of its existing 5.4 per cent bonds, redemption of which is due in February, 2022.

The company's US subsidiary had earlier this month raised $1 billion selling 10-year dollar-denominated debt.

Reliance Holding USA, priced today's Additional Notes at 325 basis points over the 10-year US Treasury Note, at a price of 101.018 per cent to yield 5.267 per cent.

"The Additional Notes will bear fixed interest of 5.4 per cent per annum, with interest payable semi-annually in arrears," the company said in a press statement.

Reliance Holding USA, Inc will apply the net proceeds to fund its ongoing capital expenditure, to make business investments, to refinance its existing debt and for general corporate purposes, it said.

"The transaction was about 7.5 times over-subscribed with an order book aggregating $3.73 billion from high quality investor accounts," RIL said.

In terms of geographic distribution, the Additional Notes were distributed 31 per cent in Asia, 19 per cent in Europe and 50 per cent in the United States.

RIL Joint Chief Financial Officer V Srikanth said: "This is a very successful re-opening following a landmark bond offering concluded recently. We are delighted to see the strong demand from long term real money accounts and sovereign owned funds across Asia, Europe and the US".

Barclays Capital, Citigroup Global Markets Inc., and The Hongkong and Shanghai Banking Corporation acted as joint bookrunners and lead managers for the bond.