BASIS POINT- Bids in for IOC loan

Last Updated: Wed, Jan 30, 2013 11:10 hrs

HONG KONG, Jan 30 (Basis Point) - Indian Oil Corp (IOC) received four bids on Monday in response to its request for proposals for a US$120m five-year loan, according to sources.

ANZ, Mizuho Corporate Bank, State Bank of India and Sumitomo Mitsui Banking Corp each put in bids on a sole basis, sources said.

A mandate on the bullet loan is expected to be awarded soon. Funds are for capital expenditure.

In September 2012, the borrower sealed a US$300m five-year loan which paid a top-level all-in of 235bp via a margin of 195bp over Libor. Mandated lead arrangers and bookrunners on that facility were Bank of Tokyo-Mitsubishi UFJ, Mizuho, SBI and SMBC. (Reporting By Maggie Chen; Editing by Gavin Stafford)

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