Business Update13 Jul 2024, 01:03 am
ONGC Videsh Limited Secures USD 800 Million Loan Facility
AI Summary
Oil and Natural Gas Corporation Ltd (ONGC) announced that its wholly owned subsidiary, ONGC Videsh Limited, has successfully availed a USD 800 million loan facility. This loan has been utilized to discharge the existing borrowing of ONGC Videsh Limited on maturity. The communication comes as an update to the previous notice dated 08.07.2024 regarding the raising of the loan.
Key Highlights
- ONGC Videsh Limited secures a USD 800 million loan facility.
- The loan facility has been drawn to discharge existing borrowings on maturity.
- The update is a follow-up to the previous communication dated 08.07.2024.
- The loan will help in managing the financial obligations of ONGC Videsh Limited.
- The transaction signifies ONGC's strategic financial planning.