Bangalore: Reliance Industries said that its U.S. subsidiary has raised $1 billion selling 10-year dollar-denominated debt, the largest overseas bond sale from an Indian company in nine months. Reliance Holdings USA, a wholly-owned subsidiary of RIL, sold 5.4 percent senior, unsecured notes maturing in February 2022 at 345 basis points more than similar-maturity Treasuries, the company said in a press statement here. "The Notes have been priced at 345 basis points over the 10-year US Treasury Note, at a price of 99.481 percent to yield 5.468 percent," it said. Reliance Holding will use the proceeds to fund its ongoing capital expenditure, to make business investments, to refinance its existing debt and for general corporate purposes. "The transaction was well executed despite the short time-window and a volatile global environment," V. Srikanth, RIL Joint Chief Financial Officer, said. Bank of America Merrill Lynch, Barclays Capital, Citigroup Global Markets, The Hongkong and Shanghai Banking Corporation Limited and UBS AG, Singapore Branch acted as joint bookrunners and lead managers. "In terms of geographic distribution, the Notes were distributed 31 percent in Asia, 17 percent in Europe and 52 percent in the United States," the statement said. The issue, which is the first corporate bond from India in 2012 and first since August 2011, was over-subscribed nearly 8 times with an orderbook aggregating $7.8 billion. The bonds were distributed to high quality fixed income accounts: 65 percent to fund managers, 15 percent to insurance funds, 10 percent to banks, 5 percent to private banks and 5 percent to government agencies.