blic sector borrower in Asia during 1997' by Euroweek magazine. This distinction has been conferred for the $500-million syndicated facility launched in May last year which received responses from 25 international banks. participating in the syndicate. The deal was priced at 24.5 basis points over Libor and it was the first time that IOC had approached the international bank market with a new instrument having a maturity period of 12 months. The pricing of the instrument was linked to the country's sovereign credit rating.
