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.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1362.60 |
| Indian Oil Corp. | 147.00 |
| BPCL | 316.00 |
| HPCL | 379.20 |
| MRPL | 180.00 |
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