By Christine Van Dusen
Atlanta, July 25 - Indian Oil Corp. Ltd. sold $500 million of 5 5/8% notes (Baa3//BBB-) due Aug. 2, 2021 at 99.217 to yield 5.729%, or Treasuries plus 275 basis points, a market source said.
The deal priced at the low end of talk, which was set at Treasuries plus 275 to 285 bps.
BNP Paribas, Citigroup and RBS were the bookrunners for the Regulation S-only deal.
The proceeds will be used to fund capital expenditures.
Indian Oil is a state-owned oil and gas company based in Mumbai, India.
| Issuer: | Indian Oil Corp. Ltd.
|
| Amount: | $500 million
|
| Maturity: | Aug. 2, 2021
|
| Description: | Senior notes
|
| Bookrunners: | BNP Paribas, Citigroup, RBS
|
| Coupon: | 5 5/8%
|
| Price: | 99.217
|
| Yield: | 5.729%
|
| Spread: | Treasuries plus 275 bps
|
| Trade date: | July 25
|
| Settlement date: | Aug. 2
|
| Distribution: | Regulation S
|
| Ratings: | Moody's: Baa3
|
| Fitch: BBB-
|
| Price talk: | Treasuries plus 275 to 285 bps
|
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