IOC issues US$ 900 million bond

Indian Oil Corporation Limited (IOC) has launched international bonds for US$ 900 million carrying a coupon of 4.75 per cent. The notes will be settled by January 16, 2019.

The company's notes will mature in 2024 and all the principal and interest payments will be made in US Dollars. The bonds carry a coupon of 4.75 per cent per annum, payable semi-annually. It will be listed on the Singapore Exchange. IOC plans to use the net proceeds of the issue to fund working capital requirements for the normal course of business of the company. Bookrunners for the issue are Citigroup, DBS Bank, SBICAP Securities, Standard Chartered Bank and Westpac Banking.

Meanwhile, the company has scheduled its Q3 results announcement and board meeting for Wednesday, January 30, 2019. 

On Tuesday, at 15:05 hours, the stock of IOC was trading at Rs. 134.40 per share, up by Rs. 2.25 or 1.70 per cent on BSE. The benchmark index BSE Sensex was at 36,316.50, up by 462.94 points or 1.29 per cent, while Nifty was at 10,889.95, up by 152.35 points or 1.42 per cent.