Indian Oil plans to tap old demand for $300m loan
Indian Oil Corp has launched a $300m loan into general syndication, giving the four bookrunners a chance to sell down part of their stake in the underwritten deal. They are hoping to appeal to lenders that got under-allocated the last time the company came to the market, and are pitching the deal with the same return.
The five year deal is offering lead arrangers, which must commit more than $15m, an all-in return of 235bp. That is the same level it offered on a $250m deal that it closed in April, and bankers think that those banks that got less than they hope for
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