Lalit Tyagi, Executive Director, Bank of Baroda said, “The successful underwriting of this USD 500 million facility showcases Bank of Baroda’s capabilities in syndicated foreign currency loans. This transaction highlights the growing maturity of GIFT City and the ability of Indian banks in raising cross-border financing and supporting the global operations of PSUs like ONGC. We remain committed to further deepening our long-standing association with the ONGC Group by offering the full spectrum of corporate finance solutions.”
Anupam Agarwal, Director (Finance), ONGC Videsh Limited said, “As a true multinational entity with a global operational footprint, ONGC Videsh views GIFT City as a critical enabler of our growth strategy. We have established OVL Overseas IFSC Limited (OOIL) as a centralised treasury nerve centre to consolidate and scale our international business. We appreciate Bank of Baroda’s role in facilitating access to competitive global capital, a partnership that also reinforces GIFT City’s emergence as a premier jurisdiction for strategic offshore financing.”
Bank of Baroda’s IFSC Banking Unit (IBU) is a critical pillar of the Bank’s international footprint and its third-largest branch outside India, having a diversified portfolio spanning syndicated credit, retail banking, and trade finance. The Bank continues to leverage this platform to reinforce its position as a pioneer and key stakeholder in the rapidly evolving GIFT City ecosystem.
