Mumbai: ONGC Videsh, the overseas exploration arm of Oil and Natural Gas Corporation (ONGC), has raised $420 million from Singapore’s DBS Bank and state-owned Bank of Baroda (BoB) in a deal closed earlier this month, taking advantage of the recent drop in global interest rates.
Both the banks are meeting prospective lenders in a bid to distribute the loan to a wider network of banks across Asia, people familiar with the transaction said.
