(EnergyAsia, October 16 2012, Tuesday) — Indian Oil Corporation (IOC) said it has raised S$400 million from a very successful first-ever sale of 10-year bonds denominated in Singapore dollars. (US$1=S$1.23). With a coupon rate of 4.1%, the bond was among the lowest paying long-tenor issue by a foreign public company, but was quickly snapped up by Asian investors, 75% of them based in Singapore. In announcing that it had become the first Indian company to successfully price long term bonds denominated in Singapore dollars to add to US dollar bonds, IOC said the landmark issue has added diversity to its debt portfolio. P.K. Goyal, IOC's finance director, said the company had raised the issue size to S$400 million from the originally planned S$300 million offer in view of strong investor demand. The book building was announced on October 4 following of "a highly successful one-day road show in Singapore, which was attended by over 50 prospective investors," said the company.