OVL makes quick loan return

By Pan Yue
12 Aug 2020

ONGC Videsh (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corp, has sent out a request for proposals for an up to $750m loan, just a few months after raising $1bn.

The company is inviting banks to bid for a five year transaction with an initial size of $500m and a $250m greenshoe option, said a banker close to the situation. The deadline for submitting proposals is September 3.

The loan will be used to refinance the outstanding portion of ...

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