ONGC mandates three for $900m bridge

25 Feb 2013

Citi, the Royal Bank of Scotland and State Bank of India have been mandated for Oil and Natural Gas Corp’s $900m bridge loan, and will be pricing the deal at less than 100bp over dollar Libor.

The Indian state-run gas exploration company sent out requests for proposals last week and gave banks until February 22 to make their pitches, said a banker close to the deal.

The leads are unlikely to take the deal into syndication, and will complete the three month loan as ...

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