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ONGC Videsh raises USD 2.2 billion from international markets


Published Jul 10, 2014
ONGC Videsh Limited

ONGC Videsh Limited (ONGC Videsh), the wholly-owned subsidiary of Oil and Natural Gas Corporation Ltd., has priced $1.5 billion and €525 million unsecured bonds in the international capital markets (Bonds).

These Bonds are guaranteed by ONGC. The Reg S Bonds will be issued in dual currency with two tranches of $750 million each for 5-year and 10-year tenors respectively and one tranche of €525 million for 7 year tenor. The Bonds are rated Baa2 by Moody’s and BBB- by S&P.

The transaction is the largest ever Reg S bond deal from India to date. It was also the maiden offering by ONGC Videsh in the Euro bond markets. The offering was oversubscribed approximately 4.5 times in USD and 3.6 times in Euro.

Tags: ONGC Videsh Ltd.




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