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OIL raises $500 mn in overseas bonds to part repay bridge loan

OIL raises $500 mn in overseas bonds to part repay bridge loan

Wednesday, April 12, 2017, 3:55 PM

State-owned Oil India Ltd has raised USD 500 million through overseas bonds to pay for the bridge loan it had taken to acquire stake in Russian oilfields. Oil India International Pte Ltd (OIIPL), a wholly owned subsidiary of OIL, priced the 10-year notes at a coupon of 4 per cent per annum payable half year, the company said in a stock exchange filing.
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