After a lull, suddenly the external commercial borrowing (ECB) market seems to be coming back to life.
Indian Oil Corporation is planning to raise a two-year $200 million syndicated loan. Power Finance Corporation, which had put on hold its 10 billion yen raising plan, is now set to raise 12 billion yen ($100 million). Reliance Industries is also holding roadshows in the Middle East for distributing its $112 million syndicated loan which has already been raised.
According to merchant banking sources, Bank of Baroda has bagged the mandate for IOC