Hindustan Petroleum Corporation (HPCL), one of the biggest giants in the oil industry in India, is reportedly planning to raise at least $500 million by selling US dollar bonds to investors in Asia and Europe. The money raised will be used to refinance existing debt and to meet some capital expenditure.
HPCL is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, Maharashtra. It has about 25% marketing share in India among PSUs and a strong marketing infrastructure.
