ONGC Videsh $1.775bn loan launches with guarantee

Oil and gas
By Rashmi Kumar
13 Mar 2014

ONGC Videsh, the international arm of India's Oil and Natural Gas Corp, launched its $1.775bn five year term loan last Friday, pricing the transaction at 165bp over dollar Libor.

The loan comes with a guarantee from parent ONGC, according to a banker on the deal.

There are three levels available in general syndication. Lead arrangers committing $30m or more earn 71.25bp in fees for an all-in of 180bp, arrangers committing $20m-$29m earn 47.5bp in fees for ...

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