Surprise euro tranche helps ONGC to India's biggest G3 bond

Asian bond issuers just can't get enough of the euro market. This week it was the turn of India's ONGC Videsh to tap the currency, but it did so in unexpected fashion, launching a dual tranche dollar deal and tacking on a debut euro leg late in the process. From a pricing perspective, the tactic looked to have paid off — and the $2.2bn-equivalent deal was India's biggest G3 issue, writes Virginia Furness.