OIL makes issue of bonds in int’l capital markets

Oil India Limited (OIL) has made an issue of US$ 550 million 5.125 per cent Fixed Rate Senior Unsecured Reg S Bonds of 10-year tenor in the international capital markets. The bonds are rated Baa2 by Moody’s and BBB- by Fitch.

The transaction was the first 10 year issuance out of India for a corporate issuer since March 2018 and the largest 10 year issuance of an Indian investment grade issuer in the Reg S only market since January 2017. The issue was oversubscribed more than 4.5 times.