HPCL fires up $500m with juicy 170bp margin

HPCL bottles 230px
By Rashmi Kumar
13 Mar 2014

Hindustan Petroleum Corp (HPCL) opened up its $500m three year into general syndication last Friday evening, with bankers away from the deal already keen to lap up the transaction thanks to the juicy margin on offer.

Deutsche Bank, Royal Bank of Scotland and State Bank of India are the bookrunners and mandated lead arrangers and were joined by Bank of Baroda and Korea Development Bank as MLAs ahead of a general launch.

They have priced the loan at 170bp over dollar Libor. Lenders ...

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