• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi, Jan. 19 The Finance Ministry has announced that it has issued oil bonds worth Rs 11,256.92 crore to three oil-marketing companies as compensation for estimated under-recoveries from sale of petroleum products during the current fiscal.

These bonds, which are transferable, are being issued at par to Indian Oil Corporation for Rs 6,362.25 crore, Bharat Petroleum Corporation Ltd for Rs 2,539.13 crore and Hindustan Petroleum Corporation Ltd for Rs 2,355.54 crore, an official release said. The oil bonds will have a coupon rate of 7.95 per cent per annum and will mature in 2025. Investment in these bonds by banks and insurance companies will not be considered as eligible investment in government securities for statutory requirements.

More Stories on : Corporate Bonds | Petroleum | Bharat Petroleum Corporation Ltd | Hindustan Petroleum Corporation Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
M&M Financial premium pref offer

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line