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.
    A $300 million Correct Answer Incorrect Answer
    B $420 million Correct Answer Incorrect Answer
    C $500 million Correct Answer Incorrect Answer
    D $650 million Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    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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