The notes are rated at the same level as BPCL's issuer default rating of 'BBB-' as they will constitute direct, unconditional, unsubordinated and unsecured obligations of the company, says Fitch
State-run oil marketer Bharat Petroleum today said it has raised 175 million Swiss francs (around Rs 1,240 crore) through an international bond sale at a coupon of 2.988 percent.
"We raised 175 million Swiss francs (around Rs 1,240 crore) through an overseas bond sale programme today at a competitive coupon of 2.988 percent, which is 235 basis points above the Swiss mid-swap rate, in a 5.75-year money," a BPCL spokesman told PTI here.
The RegS issue has been raised to meet working capital requirement of the company, he said.
Also read: BPCL growing better now than in H1FY14: MD Varadarajan
Lead bankers to the issue were BNP Paribas, Deutsche Bank, RBS, and UBS, he said, adding this is the first Swiss franc issue by an Indian corporate since February 2012. International rating agency Fitch has assigned BBB-/ stable rating to the issue.
The notes are rated at the same level as BPCL's issuer default rating of 'BBB-' as they will constitute direct, unconditional, unsubordinated and unsecured obligations of the company, Fitch said in a statement from Singapore.
BPCL stock price
On February 26, 2014, Bharat Petroleum Corporation closed at Rs 377.75, up Rs 5.80, or 1.56 percent. The 52-week high of the share was Rs 428.45 and the 52-week low was Rs 256.00.
The company's trailing 12-month (TTM) EPS was at Rs 66.24 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 5.7. The latest book value of the company is Rs 230.04 per share. At current value, the price-to-book value of the company is 1.64.
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