ONGC Videsh ditches general syndication plan

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By Pan Yue
15 Jan 2021

ONGC Videsh (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corp, has decided to cancel general syndication for its $700m loan after the bookrunners found enough liquidity during a senior stage.

The six mandated lead arrangers and bookrunners are planning to close the deal by the end of January with three more banks. One of the bookrunners is planning to transfer all of its portion to one of the three new participants, meaning the deal is likely to be ...

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