State-owned Oil India Ltd (OIL) on Wednesday said it has raised $550 million debt through an overseas bonds issue. The issue carries 5.12 per cent fixed rate and is of 10-year tenor, the company said in a statement here.
"The transaction was the first 10-year issuance out of India for a corporate issuer since March 2018 and the largest 10-year issuance of an Indian investment grade issuer in the Reg S only market since January 2017," it said.
The issue, OIL said, was oversubscribed more than 4.5 times and had response from most of the prime investors in Asia, Europe and the Middle East.
