Tight price expected for Numaligarh Refinery debut

14 Feb 2013

Indian state-owned Numaligarh Refinery is preparing to make its debut in the offshore loan market, after sending out requests for proposals for a $90m loan — and in line with the downward pricing trend bankers expect the margin to be very tight.

Banks have until the end of the month to submit pitches, according to a banker familiar with the deal. The tenor for the loan has still not been decided, but bankers said it is likely to be more than five years.

Numaligarh is jointly owned by Bharat Petroleum Corp, ...

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