Indian Oil Corporation Limited (IndianOil) has increased over Rs. 1,400 crore from the Indian Bond Markets after a gap of almost two and half years.
IndianOil’s topic of Secured Redeemable Non-Convertible Bonds opened for subscription on personal position cornerstone on December 15, 2011. The ‘AAA’ ranked bonds have a maturity of 5 years with put and call choice at the end of the 18th month. The topic has been put through book-building path in a coupon variety of 9.20% to 9.45% p.a., payable annually. The topic was well obtained by institutional investors especially FIIs and banks. The topic, which was commenced with an initial dimensions of Rs. 500 crore, was oversubscribed by over three times with subscription aggregating to approx. Rs. 1,600 crore. IndianOil has determined a cut-off coupon rate of 9.28%, i.e. the smaller of the book-building range. As per market causes, this is one of the finest charge accomplished by any business in latest times. The advances of bond topic will be used for gathering capex of ongoing household projects.
The achievement of the topic one time afresh accepts the powerful self-assurance of investors in IndianOil.
IndianOil’s topic of Secured Redeemable Non-Convertible Bonds opened for subscription on personal position cornerstone on December 15, 2011. The ‘AAA’ ranked bonds have a maturity of 5 years with put and call choice at the end of the 18th month. The topic has been put through book-building path in a coupon variety of 9.20% to 9.45% p.a., payable annually. The topic was well obtained by institutional investors especially FIIs and banks. The topic, which was commenced with an initial dimensions of Rs. 500 crore, was oversubscribed by over three times with subscription aggregating to approx. Rs. 1,600 crore. IndianOil has determined a cut-off coupon rate of 9.28%, i.e. the smaller of the book-building range. As per market causes, this is one of the finest charge accomplished by any business in latest times. The advances of bond topic will be used for gathering capex of ongoing household projects.
The achievement of the topic one time afresh accepts the powerful self-assurance of investors in IndianOil.
No comments:
Post a Comment