Indian Oil Sells $500M In Notes

Indian Oil is raising $500 million through a sale of bonds.

Indian Oil is raising $500 million through a sale of bonds, The Asset reports. The notes, which carry a coupon rate of 5.625%, are due to mature in 10 years.

Nearly 71% of the notes were issued in Asia, 25% in Europe and 4% in U.S. offshore accounts. The proceeds will help the Indian state-owned company fund existing domestic projects. BNP Paribas, Citi and Royal Bank of Scotland arranged the sale.

Click here for the story from The Asset.

Click here for additional coverage from FinanceAsia.