International bond issue by IndianOil oversubscribed
New Delhi   27-Jul-2011

IndianOil has raised $500 million through international bonds. The deal was finalised through the book building route for which IndianOil received an overwhelming response from investors across the globe. The issue was oversubscribed by about four times and IndianOil received offers to the tune of about $2 Billion.

About 71 per cent of investor contribution originated from Asia while offshore investors from Europe and the US contributed 25 per cent and 4 per cent respectively. These bonds will have a tenure of 10 years and be utilised for meeting part of IndianOil’s capital expenditure requirements. “The exceptional response received by our US dollar bond issue is an eloquent testimony to the confidence reposed by the global investors in IndianOil, India’s only corporate in Top 100 of the Fortune Global 500 listing,” said IOC Director Finance PK Goyal.