ONGC Videsh announced that it has priced USD 1.5 billion and euro 525 million unsecured bonds in the international capital markets (bonds).

These bonds are guaranteed by ONGC. The Reg S bonds will be issued in dual currency with two tranches of USD 750 million each for 5 year and 10 year tenor respectively and one tranche of Euro 525 million for 7 year tenor. The bonds are rated Baa2 by Moody's and BBB- by S&P.

The offering was oversubscribed approximately 4.5 times in USD and 3.6 times in euro.

Shares of the company gained Rs 4.10, or 1.03%, to trade at Rs 401.70 at the BSE (10.22 a.m., Wednesday).