Oil India International (Singapore), the wholly owned subsidiary (WOS) of Oil India has priced $500 million fixed rate unsecured notes due 2027. The Notes carry a coupon of 4% per annum payable half yearly and are of tenor of 10 years. The Notes are guaranteed by Oil India. The notes represent unsecured obligations of the company/ Guarantor, and would rank pari passu with all its other existing and future unsubordinated obligations. The Notes will be listed on the Singapore Stock Exchange.
Oil India, a Navratna Company, is Asia’s oldest and biggest pioneer oil exploration and Production Company, while IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.