Indian Oil exploits market window to sell $500 million bond

The state-owned oil and gas firm follows Kogas in drawing solid demand from Asian investor base.

Indian Oil exploits market window to sell $500 million bond

Indian Oil Corporation raised $500 million on Tuesday night through a 10-year bond offering that attracted $3.5 billion of demand, mostly from investors in Asia who are keen to deploy capital after being starved of new supply recently.

The state-owned oil and gas company followed on the heels of Korea Gas, which priced its own $500 million a day earlier. That deal drew a whopping $6 billion of orders, demonstrating to other investment-grade borrowers that...

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