IndianOil gets more bids for its bonds, sets prices
New Delhi   18-Jan-2008
IndianOil has set price; for sale of its oil bonds after receiving bids from investors on Thursday, a merchant banker associated with the deal said. IndianOil sold the 7.75% bonds maturing in 2021, at Rs 95 (8.36%), 8.01% 2023 bonds at Rs 96.60 (8.40%) and the 8.2% 2024 bonds at Rs 93.35 (8.39%), the banker said. The Indian government had issued oil bonds to state-run oil firms to compensate for selling fuel at below market rates. IndianOil sold Rs 2,000 crore of bonds to investors.