Indian Oil Corporation (IOC) is looking to raise additional funds worth $3 billion through US dollar bonds issue after the Reserve Bank permitted fuel retailers to raise an overseas loan to check fall in rupee value.
The company is already in process to raise $900 million through a bonds issue and is raising an equivalent sum through a syndicated loan to meet its capital requirements.
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.