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IndianOil liquidates 
9.85 billion oil bonds
Thursday, 12 October 2006, 19:30 IST
New Delhi: State-owned Indian Oil Corporation has successfully liquidated 
9.85 billion ($216 million) worth of oil bonds maturing in 2015 in the secondary market trade.
Done through the book-building route, the issue size was 2.5 billion with a green shoe option and generated a very good response, the company said in a statement.
The arrangers to the issue were A.K. Capital Services Ltd., Allianz Securities Ltd., Centrum Capital Limited, ICICI Securities Ltd. and the UTI Bank Ltd.
During the current fiscal, IndianOil has so far liquidated oil bonds worth 50 billion of various maturities in the secondary market, including this sale.
The government had issued oil bonds worth 65.71 billion to IndianOil in March 2006 in lieu of the under-recoveries suffered on the sale of LPG (cooking gas) for domestic use and kerosene for public distribution system.
With the liquidation of these bonds, IndianOil has successfully disposed of the entire quantum of oil bonds, except oil bonds of about 15 billion that are pledged with the Clearing Corporation of India Limited (CCIL) for raising short-term funds.
In addition, bonds worth 23.21 billion received by IndianOil in September 2005 against settlement of oil pool (which was dissolved in 2002) dues are also pledged with CCIL.
Source: IANS
9.85 billion ($216 million) worth of oil bonds maturing in 2015 in the secondary market trade.
Done through the book-building route, the issue size was 2.5 billion with a green shoe option and generated a very good response, the company said in a statement.
The arrangers to the issue were A.K. Capital Services Ltd., Allianz Securities Ltd., Centrum Capital Limited, ICICI Securities Ltd. and the UTI Bank Ltd.
During the current fiscal, IndianOil has so far liquidated oil bonds worth 50 billion of various maturities in the secondary market, including this sale.
The government had issued oil bonds worth 65.71 billion to IndianOil in March 2006 in lieu of the under-recoveries suffered on the sale of LPG (cooking gas) for domestic use and kerosene for public distribution system.
With the liquidation of these bonds, IndianOil has successfully disposed of the entire quantum of oil bonds, except oil bonds of about 15 billion that are pledged with the Clearing Corporation of India Limited (CCIL) for raising short-term funds.
In addition, bonds worth 23.21 billion received by IndianOil in September 2005 against settlement of oil pool (which was dissolved in 2002) dues are also pledged with CCIL.
Source: IANS