ONGC Videsh has issued US$750 million in 3.25% notes due in 2019, US$750 million in 4.625% notes due in 2024, and €525 million (US$690 million) in 2.75% notes due in 2021, all guaranteed by Oil & Natural Gas Corporation.
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The issue was the largest and first dual-currency Reg S issue from Asia and was also the first euro issuance by a quasi-sovereign corporation.
BNP Paribas, Citigroup Global Markets, Deutsche Bank, Royal Bank of Scotland and Standard Chartered Bank were the joint lead managers to the issue.
J Sagar Associates was the sole Indian legal counsel to the issue. The team comprised partners Dina Wadia and Uttara Kolhatkar and associates Vardaan Ahluwalia and Shaswata Dutta.
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