HPCL-Mittal lights up bond sale with generous price

Oil and gas
By Morgan Davis
16 Oct 2019

India oil refining and petrochemical company HPCL-Mittal Energy found support for its $300m bond sale on Tuesday, after offering investors a generous premium.

Global co-ordinators Barclays, Citi and JP Morgan, along with bookrunners DBS, First Abu Dhabi Bank, MUFG and SBICap (Singapore), began marketing the seven non-call four year notes at the 5.75% area. The senior transaction was capped at $300m.

The Ba1/—/BB rated borrower last sold a ...

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