IOC nabs ideal window for market return

Oil pipeline 230x150
By Morgan Davis
11 Jan 2019

A rally in the debt market and Indian Oil Corp’s (IOC) scarcity value buoyed the company’s return to dollar bond investors for the first time since 2013, allowing it to add a chunky $900m to its coffers.

For the new year’s first international issuance from an Indian company, IOC found the perfect window. It announced its transaction last Friday and kicked off a roadshow on Monday. By the end of Wednesday, investors had given enough positive feedback and indications of interest that the borrower felt ...

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