Oil India Limited, an integrated oil and gas company, through its wholly-owned subsidiary Oil India International Pte. Ltd., completed the public offering of 4% unsecured notes, due April 21, 2027, for gross proceeds of US$500 million (MM). Interest on the notes will be payable semi-annually.
Barclays Bank PLC, Standard Chartered Bank PLC, Citigroup Global Markets Limited, DBS Bank Ltd., Mizuho Securities Asia Limited, and MUFG Securities Asia (Singapore) Limited acted as underwriters to the company for the offering.
The company intends to use the proceeds from the offering for refinancing existing bridge loans.