ONGC builds $1.5bn bridge with nine banks
ONGC Videsh, the international arm of Oil and Natural Gas Corp, has picked a group of nine banks to arrange its $1.5bn 12 month bridge loan, in a deal that could be closed as a club rather than going into syndication.
Australia and New Zealand Bank, Bank of Tokyo Mitsubishi-UFJ, BNP Paribas, Citi, Deutsche Bank, Mizuho Bank, Royal Bank of Scotland, State Bank of India and Sumitomo Mitsui Banking Corp have been chosen as the leads, according to a banker.
They are jointly underwriting the whole loan, with
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