(BS)
State-run Oil & Natural Gas Corporation (ONGC) has listed its $300 million issue on the Global Securities Market of India International Exchange IFSC (India INX). The issue was made under ONGC’s Euro medium-term note (EMTN) programme.
In a statement, India INX said the issue comes with a coupon rate of 3.375 per cent and is due in 2029. The exchange further said that ONGC has established its $2 billion medium-term note (MTN) programme on the exchange’s Global securities Market and the $300 million is its maiden issue under the programme.
An EMTN programme is an uncommitted facility and any drawdown thereof under this document would be subject to funding requirements.ONGC is among a select set of companies the world over to set up an EMTN programme and India’s first oil and gas public sector integrated energy major to do so.
