ONGC Videsh announced Tuesday that it has priced $1.5 billion and €525 million unsecured bonds in the international capital markets to refinance its Rovuma Area 1 acquisitions.
The Bonds are guaranteed by ONGC.
The Reg S Bonds will be issued in dual currency with two tranches of $750 million each for 5-year and 10-year tenors respectively and one tranche of €525 million for 7 years.
The Bonds are rated Baa2 by Moody’s and BBB- by S&P.
The transaction is the largest ever Reg S bond deal from India to date.
BNP Paribas, Citigroup, DB, RBS and Standard Chartered acted as joint bookrunners and lead managers for this Issue.