ONGC mandates three for $900m bridge

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.

  • 25 Feb 2013

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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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 4,296 9 12.88
2 BNP Paribas 3,026 10 9.07
3 Bank of America Merrill Lynch (BAML) 2,824 9 8.46
4 Lloyds Bank 2,213 9 6.63
5 Credit Agricole 2,025 6 6.07

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Rank Lead Manager Amount $m No of issues Share %
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1 Citi 45,536.99 131 11.48%
2 Bank of America Merrill Lynch 42,332.13 117 10.67%
3 Wells Fargo Securities 33,822.43 98 8.53%
4 JPMorgan 31,087.25 89 7.84%
5 Credit Suisse 24,807.99 61 6.25%