Mumbai, May 20 (IANS): Reliance Industries on Wednesday said that it has allotted unsecured redeemable non-convertible debentures (NCD) worth Rs 3,600 crore on a private placement basis.

"We refer to our letter dated April 2, 2020 and inform that the Company has, on May 19, 2020, allotted 36,000 Unsecured Redeemable Non-Convertible Debentures of the face value of Rs 10,00,000 each, aggregating Rs 3,600 crore ('PPD Series N Debentures'), issued on private placement basis," RIL said in a regulatory filing.

The tenor of the debentures is three years, four months and two days from the date of allotment and the date of maturity or the redemption date is September 21, 2023. The redemption amount is Rs 10 lakh per debenture payable on the redemption date.

"In case of default in payment of interest and/or redemption amount on due dates, additional interest @ 2 per cent p.a. over the coupon rate will be payable by the Issuer for the period of default," it said.