Fear of rate hikes prompts bond opportunists

ONGC and Kookmin collectively raise $2b, while Sumitomo Mitsui markets a multi-tranche dollar-denominated note and Bank of Baroda reopens a tap.

Fear of rate hikes prompts bond opportunists

India’s national oil company Oil and Natural Gas Corp and Kookmin, Korea’s largest bank by assets, tapped the Asian debt capital markets on Monday in search of cheap funding while interest rates remain favourable.

ONGC issued a dual-tranche $1.5 billion bond, split equally between a five- and 10-year offering. The proceeds will be used to refinance loans made for the acquisition of a participating interest in a Mozambique-based project, according to sources familiar with the...

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