Bharat Petroleum Corporation (BPCL) has hired four banks namely Deutsche Bank, Citigroup, HSBC and Standard Chartered for a potential US dollar bond offering. The Indian state-owned refiner will use the proceeds for capital expenditure needs. The fundraising will be off the refiner's $2 billion MTN programme, which has scored a BBB- rating by Fitch.
BPCL plans to spend Rs 150-200 billion on its Kochi refinery in the next two years. The company is increasing the capacity of the refinery to 15.5 million tonnes per annum from the current 9.5mtpa at a cost of around Rs 165 billion.
BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1365.10 |
| Indian Oil Corp. | 145.85 |
| BPCL | 312.05 |
| HPCL | 370.95 |
| MRPL | 183.20 |
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