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IOC to issue foreign currency bonds worth $500 million in the international market

28 Jul 2011 Evaluate

State-owned Indian Oil Corporation (IOC) is in the process of issuing foreign currency bonds in the international market to the extent of $500 million to finance its capital expenditure. The tenor of the bonds is 10 years with the coupon rate of 5.625% per annum payable semi-annually. The bonds would be listed on the Singapore Stock Exchange. The bonds have been rated as 'Baa3' by Moody's and 'BBB-' by Fitch, which denote 'Investment' grade.

IOC is the country's biggest fuel refiner and retailer with crude processing capacity of 1.314 million barrels per day.

Indian Oil Corp. Share Price

147.00 1.15 (0.79%)
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