Oil India, ONGC issue RFPs for chunky $2.4bn

Indian Flag 1
By Rashmi Kumar
27 Aug 2013

Oil India and the international arm of Oil and Natural Gas Corp, ONGC Videsh, have sent out two separate requests for proposals for a loan totalling $2.4bn.

State-owned Oil India is seeking a $900m six month bridge financing, while ONGC Videsh has requested bids for a $1.5bn one year loan, according to a banker familiar with the deals.

Both these borrowings will go towards funding their joint acquisition of a 10% stake in a ...

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