Question
ONGC Videsh, the overseas arm of the Oil and Natural Gas
Corporation, has raised a foreign currency loan of _____ from a consortium of banks comprising DBS, Bank of Baroda and State Bank of India.Solution
ONGC Videsh, the overseas arm of the Oil and Natural Gas Corporation, has raised a foreign currency loan of $500 million from a consortium of banks comprising DBS, Bank of Baroda and State Bank of India. The syndicated loan, denominated in dollars and with a tenure of five years, is backed by ONGC’s guarantee and benchmarked to three-month term secured overnight financing rate (SOFR).
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