International Bond issue by IndianOil oversubscribed
"The issue was oversubscribed by about four times and IndianOil received offers to the tune of about $2 billion," IndianOil said in a statement.
By ET Bureau |
NEW DELHI: Indian Oil Corporation ( IndianOil) has raised $500 million through international bonds.
The deal was finalised through the book building route for which IndianOil received an overwhelming response from investors across the globe, the company said in a statement.
"The issue was oversubscribed by about four times and IndianOil received offers to the tune of about $2 billion," it said.
About 71% of investor contribution originated from Asia while offshore investors from Europe and the US contributed 25% and 4% respectively, it added.
PK Goyal, Director (Finance), IndianOil said, "The exceptional response received by our US dollar bond issue is an eloquent testimony to the confidence reposed by the global investors in IndianOil, India's only corporate in top 100 of the Fortune Global 500 listing."
These bonds will have a tenure of 10 years and be utilised for meeting part of IndianOil's capital expenditure requirements. The deal was concluded yesterday and was the second international bond issue of the Corporation under Regulation S format, the first having been concluded in January last year.
The deal was finalised through the book building route for which IndianOil received an overwhelming response from investors across the globe, the company said in a statement.
"The issue was oversubscribed by about four times and IndianOil received offers to the tune of about $2 billion," it said.
About 71% of investor contribution originated from Asia while offshore investors from Europe and the US contributed 25% and 4% respectively, it added.
PK Goyal, Director (Finance), IndianOil said, "The exceptional response received by our US dollar bond issue is an eloquent testimony to the confidence reposed by the global investors in IndianOil, India's only corporate in top 100 of the Fortune Global 500 listing."
These bonds will have a tenure of 10 years and be utilised for meeting part of IndianOil's capital expenditure requirements. The deal was concluded yesterday and was the second international bond issue of the Corporation under Regulation S format, the first having been concluded in January last year.
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