{"id":300305,"date":"2019-11-11T10:29:18","date_gmt":"2019-11-11T04:59:18","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=300305"},"modified":"2019-11-11T11:13:40","modified_gmt":"2019-11-11T05:43:40","slug":"ompl-plans-to-raise-510-million-through-foreign-currency-term-loan","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ompl-plans-to-raise-510-million-through-foreign-currency-term-loan\/","title":{"rendered":"OMPL plans to raise $510 million through foreign currency term loan"},"content":{"rendered":"<p>ONGC Mangalore Petrochemicals (OMPL) plans to raise $510 million (Rs 3,600 crore) through a foreign currency term loan, maturing July 2027, with a moratorium of three years for repayment. <\/p>\n<p>India Ratings and Research (Ind-Ra) has assigned an \u2018AAA\/stable\u2019 rating. It says this was done after considering OMPL\u2019s strong operational and strategic ties with its sponsors, Mangalore Refinery and Petrochemicals (MRPL, 51 per cent stake) and Oil and Natural Gas Corporation (ONGC, 49 per cent). ONGC actually holds 71.6 per cent of the equity, the rest from its stake through Hindustan Petroleum Corporation in MRPL. <\/p>\n<p>These linkages between OMPL and its parents are strong and likely to remain so during FY20-21. In FY19, both MRPL and ONGC infused equity of Rs 300 crore (including Rs 50 crore as securities premium) in OMPL. An additional Rs 500 crore (including Rs 80 crore as securities premium) was infused in June.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ONGC Mangalore Petrochemicals (OMPL) plans to raise $510 million (Rs 3,600 crore) through a foreign currency term loan, maturing July 2027, with a moratorium of three years for repayment. India Ratings and Research (Ind-Ra) has assigned an \u2018AAA\/stable\u2019 rating. It says this was done after considering OMPL\u2019s strong operational and strategic ties with its sponsors, Mangalore Refinery and Petrochemicals (MRPL, 51 per cent stake) and Oil and Natural Gas Corporation (ONGC, 49 per cent). ONGC actually holds 71.6 per cent of the equity, the rest from its stake through Hindustan Petroleum Corporation in MRPL. These linkages between OMPL and its [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-300305","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/300305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=300305"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/300305\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=300305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=300305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=300305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}