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New Delhi, Feb. 4 The Centre has issued oil bonds amounting to Rs 21,942 crore to three oil marketing companies. The special bonds, which carry a coupon of 6.90 per cent and maturity in 2026, have been issued as compensation towards estimated under-recoveries on account of sale of sensitive petroleum products during the current financial year.

While Indian Oil Corporation Ltd has got bonds worth Rs 11,943.93 crore, Hindustan Petroleum Corporation Ltd has got bonds to the tune of Rs 4,681.36 crore. Bharat Petroleum Corporation Ltd has been given bonds for Rs 5,316.71 crore.

With this, the total oil bonds issued to the three oil marketing companies have gone up to Rs 65,942 crore during the current financial year. Up to end January 2009 this fiscal, the Centre had issued oil bonds to the tune of Rs 44,000 crore, which is about 1.1 per cent of GDP.

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

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