ONGC lists USD 300 mn MTN issue on India INX

BSE-owned India International Exchange (India INX) on Friday said it has listed state-owned ONGC's USD 300 million medium-term note issue on its debt listing platform.

The maiden issue is part of ONGC's medium term note (MTN) programme to raise up to USD 2 billion in overseas borrowings through debt-instrument.

The notes under the programme have been issued at a coupon rate of 3.375 per cent due in 2029, the release said.

India INX is the country's first debt listing platform that allows raising funds in any currency of choice by both foreign and Indian issuers from investors across the globe.

"We are happy to be part of India INX at IFSC, GIFT City to list ONGC's maiden issue of USD 300 million ... which offers opportunity to reach out to international investors to raise funds in a similar manner in other international markets in addition to providing single window facility for compliance reporting, " ONGC Chairman and managing director Shashi Shanker said in a statement.

Since the launch of global securities market, medium-term notes worth USD 47 billion and bonds worth USD 17.9 billion have been listed on the platform so far, India INX said.

India INX is India's first International Exchange set up at Gujarat International Finance Tech-City (GIFT City).