State-owned Indian Oil Corporation (IOC) has raised over Rs 1,400 crore from the domestic bond markets after a gap of nearly two-and-a-half years. The company’s issue of Secured Redeemable non-convertible bonds opened for subscription on private placement basis on December 15, 2011.
The issue, which was launched with an original size of Rs 500 crore, was oversubscribed by over three times with subscription aggregating to about Rs 1,600 crore.
The ‘AAA’ rated bonds have a maturity of five years with put and call option at the end of the 18th month. The proceeds of bond issue shall be utilised for meeting capex of ongoing domestic projects.
