IOC to raise $500 million

Indian Oil Corporation Ltd (IOC) has announced that IndianOil is in the process of issuing foreign currency bonds in the international market to the extent of USD 500 million to finance its capital expenditure. The tenor of the bonds is 5 years with the coupon rate of 4.75% per annum payable semi-annually. The bonds would be listed on the Singapore Stock Exchange. The bonds have been rated as Baa3 by Moody's and BBB- by Fitch, which denote 'Investment' grade.

The stock was trading at Rs.327.25, up by Rs.2 or 0.61%. The stock hit an intraday high of Rs.334.50 and low of Rs.322.50.

The total traded quantity was 222148 compared to 2 week average of 151711.

Source : Equity Bulls

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