OVL mandates six for $700m loan

Oil gas fossil fuel hydrocarbon refining 28Aug20 from Adobe 575x375
By Pan Yue
05 Oct 2020

ONGC Videsh (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corp, has picked six banks for a $700m borrowing.

Punjab National Bank has taken the largest allocation of $190m, followed by Sumitomo Mitsui Banking Corp with $160m. Axis Bank, Intesa Sanpaolo and State Bank of India received $100m apiece. UCO Bank took $50m, according to a banker close to the situation.

OVL sent out a request for ...

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