ONGC sells $1 billion dual-tranche bond

India's largest oil and gas explorer returns to the international capital markets to seek fresh capital to refinance an acquisition loan.
Vankor
Vankor

ONGC Videsh, the overseas arm of India's biggest oil-and-gas explorer ONGC, issued a dual-tranche bond on Tuesday after average spreads on the country's US dollar-denominated bonds hit the lowest level in almost a year.

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