ONGC Videsh Ltd. (OVL) has raised $2.21 billion in long-term bonds, the largest bond sale from India, from overseas markets to refinance loans taken to acquire oil fields in Mozambique. These include $750 million in five-year bonds, $750 million ten-year bonds and 525 million euro in seven-year bonds.

According to book runners, the five-year dollar bond was priced at Treasury (T) + 160 basis points, the 10-year dollar bond was priced at T+ 207.5 basis points. The euro bonds were priced at MS+180.

OVL is ONGC’s overseas arm.

Keywords: OVLbond saleONGC

More In: Industry | Business