by Amruth Sundarkumar | Aug 18, 2022 | Corporates, India
India’s state-owned oil marketing companies’ IOC, BPCL, and HPCL short-term borrowings rose 17% to INR 730bn ($9.2bn) in the last fiscal, as per annual reports. The higher borrowings were attributed to increased working capital pressure on account of a price revision...
by Amruth Sundarkumar | Aug 16, 2022 | Corporates, India
India’s state-owned refiner BPCL has planned a capex outlay of around INR 1.4tn (~$18bn) in the next five years for future expansion in sectors such as petrochemicals, gas, renewables, consumer retailing, E-mobility, and upstream, as mentioned in its recently released...
by Amruth Sundarkumar | Apr 6, 2022 | High Yield Bonds, India, Investment Grade Bonds
Indian financial services company IIFL Finance bought-back $50mn of its 5.875% dollar bonds due 2023. IIFL Finance funded the buyback via an offshore short-term overseas loan facility extended by HSBC. The 5.875% 2023s were issued in February 2020 with IIFL raising...
by Amruth Sundarkumar | Mar 14, 2022 | Corporates, India
Bharat Petroleum Corporation Limited (BPCL) has launched a consent solicitation on its 4.625% 2022s, 4% 2025s and 4.375% 2027s to amend certain terms for a proposed amalgamation of two subsidiaries. BPCL is in the process merging wholly-owned subsidiaries Bharat Oman...
