IndianOil in $ 250 mn loan deal with 20 banks
New Delhi   17-Apr-2012

IndianOil signed a $250 million five-year loan with 20 banks, according to finance director P.K. Goyal. The biggest lenders are paid 245 basis points (bps) more than the London interbank offered rate (Libor), Including fees, Goyal said by telephone on Monday. One basis point is one-hundredth of a percentage point IndianOil is paying a margin of 205 basis points over Libor, he said. Mizuho Financlal Group Inc., State Bank of India and Sumitomo Mitsui Financial Group Inc. arranged the facility, according to ‘Bloomberg' data.