IndianOil bags IFR Asia Indian Capital Market Deal of the Year award
New Delhi   28-Feb-2013

International Financing Review Asia (IFR Asia), one of the most respected capital markets agencies of Asia, conferred the 'Indian Capital Market Deal of the Year 2012' to IndianOil recently issued Singapore dollars (SGD) bonds at a ceremony in Hong Kong. The award was received by IndianOil Director (Finance) Mr. P K Goyal.

IndianOil, the largest commercial enterprise of India, became the first corporate in the country to price long-term Singapore dollars bonds of 400 million for 10 years in October 2012.

This bond issue had set many benchmarks, eg the first Singapore dollars -denominated bond issuance by any Indian corporate, largest SGD offering by any foreign corporate issuer in 2012, largest ever SGD issuance by an Indian entity and the longest tenor senior note in the SGD market by a foreign issuer in 2012.

An innovative way of raising long-term funds, the deal was widely appreciated by market participants.

It has also paved the way for other Indian corporates to tap the Singapore market for their long-term financing needs.