The company raised $400 million through senior unsecured notes due 2022 and $600 million of senior unsecured notes due 2026.
ONGC Videsh Vankorneft, a subsidiary of ONGC Videsh Ltd has raised $1 billion through debt instruments issued in global markets.
The company raised $400 million through senior unsecured notes due 2022 and $600 million of senior unsecured notes due 2026. The notes are guaranteed by ONGC and have been assigned a Baa2 rating by Moody’s and BBB- by S&P.
The transaction is the largest achieved by an Indian insurer in 2016 and the First Dual tranche insurance from India in 2016,” the company said in a statement.
Citigroup and Standard Chartered Bank acted as Joint Global Coordinators and Citigroup, Standard Chartered Bank, DBS Bank Ltd, Mizuho Securities, MUFG and SMBC Nikko acted as Joint Bookrunners and Joint Lead Managers for this issuance.
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