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IOC's syndicated loan
NEW DELHI,
FEB. 25.
Indian Oil Corporation has raised $200 million syndicated term loan facility arranged by Citigroup, Credit Yonnais and Standard Chartered Bank at highly competitive rates. The agreement was signed in Singapore on Wednesday by the IOC Director (Finance), P. Sugavanam, a company release said here. The maturity of this loan is 2.75 years and the proceeds will be utilised by the corporation to finance import of crude oil and petroleum products, it added.
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