Indian Oil Corp To Issue Short-Term CP - Report

Indian Oil Corporation plans to raise funds selling commercial papers maturing in a more than a month, three merchant bankers said on Friday.

The state-run oil marketing company will offer a yield of 5.61% on these notes, and it has received commitments worth around 15 billion rupees ($189.45 million) so far, the bankers said.

The notes are rated A1+ by ICRA and the issue will mature on Sept. 23.