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ONGC lists $300 million MTN issue on India INX
Dec-07-2019

BSE-owned India International Exchange (India INX) has listed state-owned Oil and Natural Gas Corporation’s (ONGC) $300 million medium-term note (MTN) issue on its debt listing platform. The maiden issue is part of ONGC's medium term note programme to raise up to $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. 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.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.

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