Bloomberg News

Indian Oil Signs $250 Million Five-Year Loan With 20 Banks

April 16, 2012

Indian Oil Corp. signed a $250 million five-year loan with 20 banks, according to Finance Director P.K. Goyal.

The biggest lenders are paid 245 basis points more than the London interbank offered rate, including fees, Goyal said by telephone today. Indian Oil is paying a margin of 205 basis points over Libor, he said.

Mizuho Financial Group Inc. (8411), State Bank of India (SBIN) and Sumitomo Mitsui Financial Group Inc. (8316) arranged the facility, according to data compiled by Bloomberg.

Mizuho lent $50 million while State Bank of India and Sumitomo Mitsui Financial Group pledged $30 million each, according to a person familiar with the matter, who asked not to be identified because the details are private. Another 17 banks contributed the balance in syndication, the person said.

(according to a person with knowledge of the financing)
Mizuho Financial Group
State Bank of India
Sumitomo Mitsui Financial Group
Shinsei Bank Ltd.
DZ Bank AG
Qatar National Bank SAQ
Mega International Commercial Bank Corp.
Aozora Bank Ltd.
DBS Group Holdings Ltd.
Bank of Taiwan
E.Sun Financial Holding Co.
First Commercial Bank Co.
United Taiwan Bank SA
Hua Nan Commercial Bank Ltd.
Taiwan Cooperative Bank
Sumitomo Mitsui Trust Holdings Inc.
Export-Import Bank of China
Cathay United Bank Co.
Taiwan Business Bank
Hachijuni Bank Ltd.

To contact the reporter on this story: Katrina Nicholas in Singapore at

To contact the editor responsible for this story: Shelley Smith at

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