Indian Oil raises Rs.1,400 crore through bond issue
December 16th, 2011 - 6:42 pm ICT by IANSNew Delhi, Dec 16 (IANS) State-run Indian Oil Corporation (IOC) Friday said it has raised over Rs.1,400 crore from the bond markets to meet the capital requirements for its ongoing domestic projects.
“Indian Oil’s issue of secured redeemable non-convertible bonds opened for subscription on private placement basis on Dec 15,” said Sidhartha Mukherjee, general manager, corporate communications.
“The proceeds of bond issue shall be utilised for meeting capex (capital expenditure) of ongoing domestic projects,” Mukherjee said in a statement.
The bonds have a maturity of five years with put and call option at the end of the 18 months.
The company said the bonds, which had an intended size of
Rs.500 crore, were oversubscribed by over three times.
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Tags: bond issue, bond markets, capital expenditure, convertible bonds, corporate communications, crore, domestic projects, indian oil, indian oil corporation, ioc, maturity, New Delhi, private placement basis, proceeds, rs 500, three times