ONGC

India's largest oil and gas explorer returns to the international capital markets to seek fresh capital to refinance an acquisition loan.

ONGC and Kookmin collectively raise $2b, while Sumitomo Mitsui markets a multi-tranche dollar-denominated note and Bank of Baroda reopens a tap.

Asian borrowers are turning to bonds to fund offshore acquisitions, with ONGC being the latest to jump on the bandwagon.

Power Finance Corp replenishes its capital base by selling new shares, while the government divests a 5% stake.

Three Indian oil companies, Malaysia's Petronas and Spain's Repsol are awarded the mandate to partner with the Venezuelan state oil company on a multi-billion dollar oil project in Venezuela.

The inital offering for the Indian oil and gas exploration company scrapes through, achieving a subcription rate of 1.14 times and raising $1.93 billion.

The Indian conglomerate takes advantage of soaring oil markets to profitably exit from its investment in ONGC.