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OVL joins hands with foreign banks to raise $2.5 billion
March 1, 2014March 1, 2014by In Oil & Gas

OVL joins hands with foreign banks to raise $2.5 billion

ONGC Videsh Ltd (OVL) has signed separate agreements with consortia of international banks for raising $2.5 billion offshore borrowings to fund the acquisition of a minority stake in an offshore gas field in Mozambique. The first agreement is signed with a consortium of international banks, including ANZ, Bank of Nova Scotia.