ONGC to raise $900m in overseas bond issue

State-run Oil and Natural Gas Corp will raise $900 million through overseas bonds to fund an acquisition in Azerbaijan, Chairman Sudhir Vasudeva told reporters on Thursday.

ONGC Videsh, a unit of India's largest energy explorer was planning to raise up to USD 900 million to fund the buy, a company executive said in November. Two sources said separately the company had hired banks for the fund raising.

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