Home » IOC to raise $900 million overseas debt

IOC to raise $900 million overseas debt

Oil & GasUncategorized
June 1, 2014June 1, 2014
IOC to raise $900 million overseas debt
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Indian Oil Corporation will raise $1.65 billion debt in overseas market in the current financial year. The company will raise $900 million through external commercial borrowings to replace short-term costlier loan while another $750 million will be raised over the financial year, its Director Finance, PK Goyal said. The overseas debt interest rate was around 3-3.5 per cent. The company raised $1.17 billion foreign debt in the last fiscal.

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