Oil India picks 11-member club for $1.3bn loan
Oil India has picked a group of 11 banks to arrange a $1.3bn 12 month bridge loan, opting to close it as a club owing to the short tenor. While 10 of the lenders are supplying $1bn collectively, HSBC is giving the state-owned group $300m, having submitted a proposal offering a low margin in the 60bp over Libor range.
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