Indian Oil Corporation (IOC) has raised Rs 1,500 crore debt through a bonds issue at a coupon rate lower than government bonds. The company has priced its five-year rupee bonds at a coupon rate of 6.14 per cent tighter than a similar maturing government bond that is trading at an annualised yield of 6.29 per cent. The issue marks return of the company to the onshore bond market after a gap of more than a year.
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.
