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ONGC to raise $900M in overseas bond issue

31 January, 2013

State-run Oil and Natural Gas Corp  will raise $900 million through overseas bonds to fund an acquisition in Azerbaijan, Chairman Sudhir Vasudeva told reporters on Thursday.

ONGC Videsh, a unit of India’s largest energy explorer was planning to raise up to $900 million to fund the buy, a company executive said in November. Two sources said separately the company had hired banks for the fund raising.


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ONGC to raise $900M in overseas bond issue

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