India News
Search Web Directory
News Home
Road to expansion: HPCL to raise $500 m in medium-term bonds
Posted on 1st September 2018
Hindustan Petroleum (HPCL) is planning to raise $500 million in medium-term bonds for its expansion projects in the January-March quarter of 2019, a senior company official said.

J Ramaswamy, director, finance, HPCL, told FE, “The company will start the prepartory work by November-December and will hit the market in the January-March quarter. The tenure of the bond will depend on the inflows from the expansion projects, which will start from July onwards.”

“We will mostly be looking at the 5-year tenure as it would not be prudent to go for the 10-year bonds as we will have to match the bullet repayment with project inflows.” The inflows from some of the refinery expansion at Mumbai refinery and Vizag projects are expected by 2022, while other projects like the greenfield Rajasthan refinery project will happen over the next five years, he said.

The company is also likely to look at the domestic market to raise funds as compulsorily hedging the infrastructre projects makes the interest rates as good as foreign markets, Ramaswamy said.

The company has undertaken the expansion of Mumbai refinery to 9.5 mtpa from 7.5 mtpa at a cost of `5,060 crore, while the 9 mtpa Barmer refinery in Rajasthan is a greenfield project.

The company is also one of the partners in the 60 mtpa Ratnagiri Refinery and Petrochemicals project in Maharashtra along with two other PSU players — IOC and BPCL.

Last year, HPCL in its maiden foray into the international market raised $500 million in 10-year bonds at a semi-annual coupon rate of 4%. “The rates have gone up by 0.75% as of now in the international market, which makes the domestic market equally competitive,” Ramaswamy said.

The company also took shareholders’ approval to raise `12,000 crore and has identified `75,000 crore as capital expenditure over the next five years. Around `8,450 crore will be spent in FY19.

Related Companies: Hindustan Petroleum Corporation Ltd.(HPCL)   

Other Latest News
Gold prices slump to Rs 48,900 per 10 gm, Silver rallying at Rs 51,950 a kg
Posted on 11th July 2020
Gold prices on Saturday fell to Rs 48,900 from Rs 49,100 per 10 gram, while silver climbed to Rs 51,950 from Rs 51,900 per kilogram, according to Good Returns website.

Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

Facebook plans to ban political ads before US Presidential election: Report
Posted on 11th July 2020
Facing intense criticism from all quarters, Facebook is planning to ban political ads on its platform like Twitter does as the US inches closer towards the presidential election in November, the media reported on Saturday.

According to a report in CNN Business citing sources, the potential ban on political ads to reduce the spread of disinformation has been under consideration since last fall.

RIL closes four Jio stake sale deals, receives Rs 30,062 cr from investors
Posted on 11th July 2020
After Facebook Inc, Reliance Industries has closed deals to sell a minority stake in its digital arm to four other investors, receiving a total of over Rs 30,062 crore.

In a regulatory filing, Reliance said it has closed the sale of 6.13 per cent stake in Jio Platforms with L Catterton, The Public Investment Fund, Silver Lake and General Atlantic.

Kolkata: Eden Gardens to be used as COVID-19 quarantine facility for police personnel
Posted on 11th July 2020
Kolkata Police can now use the galleries of Eden Gardens stadium as a makeshift quarantine facility, the Cricket Association of Bengal (CAB) on Friday said.

A meeting at Kolkata Police Headquarter, Lal Bazaar, took place at the Chamber of Special Commissioner Jawed Shamim. It was attended by CAB president Avishek Dalmiya.

India sees 27,114 new coronavirus cases, tally crosses 8 lakh-mark
Posted on 11th July 2020
In another highest single-day spike of coronavirus cases, India on Saturday reported 27,114 new cases in the last 24 hours. As many as 519 deaths were reported during this period.

With this, the country's total count has crossed the eight lakh-mark.

The total number of positive cases in the country stands at 8,20,916, including 2,83,407 active cases, 5,15,386 cured/discharged/migrated and 22,123 deaths, according to the Ministry of Health and Family Welfare.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Road to expansion: HPCL to raise $500 m in medium-term bonds
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Security Code*

Be the first person to write a business review for Road to expansion: HPCL to raise $500 m in medium-term bonds

Most Read News

China has caused great damage to the US, rest of the world: Trump

Gold standard of protection: Pune man gets mask made of gold worth Rs 2.89 lakh

With 22,771 new COVID-19 cases, India sees highest single-day spike

Gold prices today steady at Rs 48,350 per 10 gm, silver at Rs 48,550 a kg

COVID-19 Outbreak: India crosses Russia, takes third spot in list of worst-hit nations

More India News

Photo Gallery

Renault Pulse(19 Images)Renault Pulse.
Kapoor & Sons(12 Images) Kapoor & Sons
Keerthy Suresh(13 Images)Keerthy Suresh
Sarkar 3(10 Images) Sarkar 3
  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
About us
Link to us
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2020
    All Rights Reserved
Privacy Statement