IOCs first overseas bond issue a hit

The exceptional response received by our debut US dollar bond issue is an eloquent testimony to the confidence that global investors have reposed in IOC and an acknowledgement of the strong fundamentals of the Indian economy. This transaction also broadens our international investor base substantially and enhances our financial flexibility for the future,SV Narasimhan,IOCs director finance,was quoted as saying.

Deutsche Bank,HSBC and Standard Chartered Bank acted as joint-lead managers and joint-book runners in the offering

of the bond,which was placed under the Regulation S format in the international market on January 14.