Indian Oil Corporation (IOC) has launched an issue of $ 900,000,000, 4.75% Notes priced on January 10, 2018. The Notes carry a coupon of 4.75 % per annum payable semi-annually. The Notes will mature in 2024 and all the principal and interest payments will be made in US Dollars. The Notes are expected to be settled by January 16, 2019.
The Notes represent direct, unconditional and unsecured obligations of the company and will rank pari passu among themselves and all other unsecured obligations of the company. The Notes will be listed on the Singapore Exchange Securities Trading.
The net proceeds of the issue of the Notes will be applied by the company to fund working capital requirements for normal course of business, in accordance with the Master Direction- External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency by Authorised Dealers and Persons other than Authorised Dealers dated January 1, 2016.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
| 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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