IOC's $500-m bond issue oversubscribed
at Monday, January 18, 2010
Indian Oil Corporation Ltd's (IOC) maiden $500 million, five-year bond has received an overwhelming response from investors in the international market with an order book of $6.5 billion, representing an oversubscription of 13 times, a company statement said. The bond, priced at 205 basis points over dollar mid-swaps, will be used by IOC to fund capital expenditure for its vast portfolio of ongoing projects, the statement said. Deutsche Bank, HSBC and Standard Chartered Bank acted as the joint lead managers and joint book runners in the offering of the bond which was placed under "Regulation S" format in the international market on January 14. - Our Bureau
HINDU BUSINESS LINE 16.01.10
