IOC plans to raise US$500 million to finance capex

State-run refining and marketing giant Indian Oil Corp. (IOC) has announced its plan to issue foreign currency bonds in the international market to the extent of US$500 million to finance its capital expenditure. The tenor of the bonds is five years, with a coupon rate of 4.75% per annum, payable semi-annually. The bonds would be listed on the Singapore Stock Exchange. (January 19, 2010)