ONGC issues $300 million notes maturing in Dec 2029

Oil and Natural Gas Corporation (ONGC) said that it has issued 300 million dollar notes at a coupon of 3.375 per cent per annum payable semi-annually in arrears. The notes are rated Baa1 from Moody's Investors Service and BBB minus from S and P Global Ratings. They will mature on December 5, 2029 unless redeemed earlier subject to the terms and conditions. The principal and interest payments pertaining to the notes will be made in US dollars. The settlement date is expected to be December 5, 2019. The bond was priced at 99.253 per cent to provide a yield to maturity of 3.464 per cent per annum.The notes represent direct, senior, unconditional and unsecured obligations of the company and will rank pari passu (on equal footing) among themselves and all other unsecured obligations of the company.