Reliance goes ahead with ₹12,000 crore bond issue amid rising borrowing costs

The Economic Times reports that Reliance Industries is moving forward with a ₹12,000 crore bond issue offering a 7.9% coupon. Sagarmala Finance canceled a bond sale after bids came in above its targeted interest rate, and several companies, including Sidbi, have withdrawn bond auctions over unexpectedly high borrowing costs.