ONGC Videsh joins great Asian euro road trip
India’s ONGC Videsh is looking to make a return to the dollar market and possibly debut in euros after mandating five banks. The oil and gas company is among a growing number of Asian borrowers that are tapping the European investor base as accounts seek to diversify their portfolios.
The Baa2/BBB- rated issuer mandated BNP Paribas, Citi, Deutsche Bank, RBS and Standard Chartered as joint bookrunners to arrange investor meetings in Asia and Europe which started on Tuesday July 1.
A dollar and/or euro denominated Reg S transaction may follow.“There ...