Indian Oil Corp sells oil bonds to RBI: sources

Indian Oil Corp sells oil bonds to RBI: sources

Mumbai: State-run refiner Indian Oil Corporation on Wednesday sold special oil bonds worth $56.6 million to Reserve Bank of India, sources told Reuters.

“The bonds were sold under the SMO (special market operations)," a company source said, referring to a special liquidity facility extended to refiners by the central bank.

The bonds, maturing in 2023, were sold at a yield of 7.84%, market sources said.

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