Nine to help Indian Oil drill for increased $650m five year

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By Rashmi Kumar
15 May 2014

Indian Oil Corp has mandated nine banks for its latest fundraising, with strong support at the top allowing the borrower to increase its loan to $650m from the $500m it had sought in its request for proposals.

Australia and New Zealand Bank, DBS, Deutsche Bank, HSBC, Scotiabank, Sumitomo Mitsui Banking Corp, State Bank of India, United Overseas Bank and Westpac are the mandated lead arrangers and bookrunners, according to a banker at one of these lenders.

Each bank has committed a different amount, but ...

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