Indian Oil Corporation issues NCDs aggregating Rs 2000 crore

On private placement basis

Indian Oil Corporation has issued 20000, 5.50% Unsecured, Listed, Rated, Taxable, Redeemable, Nonconvertible Debentures (Series - XIX) of Rs.10,00,000 each aggregating to Rs. 2000 crore on Private Placement basis on 20 October 2020.

The funds raised through this issue will be utilized for, inter alia, refinancing of existing borrowing and/or funding of Capital Expenditure of the Company, including recoupment of expenditure already incurred and/or for any other purpose in the ordinary course of business of the issuer.

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