Reliance Infrastructure Limited announced a private placement of unsecured foreign currency convertible bonds for gross proceeds of INR 31,757,000,000 ($400,000,000) on August 5, 2022. The bonds carry fixed interest rate of 5% per annum, will mature in 2032 after 10 years and 1 day from the date of issuance, and will be convertible into approximately 258,186,992 common shares of INR 10 each, at a fixed conversion price of INR 123 per share. The transaction has been approved by board of directors of the company.