IOC raises S$400 m via 10-year bond issue

NEW DELHI, OCT. 6: Indian Oil Corporation Ltd (IOC) on Friday said it has mopped up S$400 million (Rs 1,684 crore) through a 10-year bond issue.

The issue size was increased to S$400 million from the originally planned S$300 million, said P.K. Goyal, Director (Finance), IOC. This is the first time IOC has raised money in Singapore dollars. Hitherto, it had stuck to US dollar denominated debt.

 The book consisted of orders from over 100 investors and the profile included fund managers (22 per cent), banks (18 per cent) and private banks (60 per cent). In terms of geography, 75 per cent orders came from Singapore and 25 per cent from rest of Asia.

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