Lenders make a beeline for IOC loan blockbuster


Lenders make a beeline for IOC loan blockbuster

State-owned Indian Oil Corporation bumped up its latest five-year borrowing to $1.7 billion, its largest offshore loan on record, following an overwhelming response from lenders despite seemingly tight pricing.

A total of 17 lenders joined mandated lead arrangers and bookrunners State Bank of India and Westpac on the deal, in a rare example of a widely syndicated loan for an Indian state-owned entity.

The timing of IOC s latest loan and the richer pricing it offered than that of its previous borrowing proved to be the big draws. Read More

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