Archive · 17 Dec 2025
Bank of Baroda Facilitates $500M Loan for ONGC Subsidiary
Bank of Baroda, a big Indian bank, helped a company called OVL Overseas IFSC Limited (OOIL) get a big loan.
The loan is for $500 million and will last for 5 years.
OOIL is a part of ONGC Videsh Limited, which is a company that works all over the world.
The loan was given in a special place called GIFT City, which is known for financial activities.
The bank and OOIL had a special event to celebrate the loan.
The bank said this shows that Indian banks can help big companies get money from other countries.
OOIL said GIFT City is important for their growth and the bank helped them get the money they needed.
Bank of Baroda underwrote a $500 million 5-year foreign currency term loan for OVL Overseas IFSC Limited (OOIL).
The loan facility was established to support the global operations of ONGC Videsh Limited (OVL).
The Drawdown Ceremony for the term loan was held at the Bank of Baroda IFSC Banking Unit in GIFT City.
Bank of Baroda's IFSC Banking Unit is a key part of the bank's international operations.
OOIL views GIFT City as a critical enabler for its growth strategy and global business consolidation.
- Who
- Bank of Baroda and OVL Overseas IFSC Limited (OOIL)
- What
- Underwriting of a $500 million 5-year foreign currency term loan facility
- When
- December 17, 2025
- Where
- GIFT City
- Why
- To support the global operations of ONGC Videsh Limited and highlight the capabilities of Indian banks in cross-border financing
- Loan Amount
- $500 million
- Loan Term
- 5 years
- Borrower
- OVL Overseas IFSC Limited (OOIL)
- Lender
- Bank of Baroda
- Location
- GIFT City
- Purpose
- Support global operations of ONGC Videsh Limited
- Date
- December 17, 2025
