ONGC Videsh invites bids for $1.268bn acquisition loan

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By Shruti Chaturvedi
07 Apr 2016

ONGC Videsh has sent out a request for proposals for a $1.268bn nine month loan facility, as the international arm of Oil and Natural Gas Corp seeks funds for the acquisition of a stake in oil fields in Russia.

The borrower has asked banks to bid on an individual basis with a minimum commitment of $100m. Responses are due by mid April, said a banker who has received the invitation. 

He declined to comment on pricing but expected the bridge loan to proceed smoothly, despite sanctions on ...

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