Indian Oil gives international banks public sector exposure

06 Jan 2011

Loans bankers could have a new source of income in 2011: India’s public sector companies. State-owned Indian Oil Corp has mandated five bookrunners to syndicate a $500m loan — and bankers hope it will lead to more Indian borrowers turning to wider syndications rather than relying on one or two big lenders.

BNP Paribas, Bank of Tokyo-Mitsubishi, Mizuho, State Bank of India and SMBC are running Indian Oil’s five year deal which is expected to launch within "the next week or so", according to a banker close to the deal.

The decision to mandate a larger group of bookrunners marks ...

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