ONGC arm gets about Rs 35k cr loan from DBS Bank, Bank of Baroda
Summary
The loan will strengthen ONGC Videshs available cash as it contends with shrinking free cash.Merchant bankers said last month that the company was likely to issue bonds to raise funds, and Venezuela provided some respite in January by agreeing to give ONGC Videsh some oil in lieu of over Rs 49 thousand crore dividend dues.
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