Allen & Overy has advised ANZ, Citi, J.P. Morgan, Standard Chartered Bank and SBICAP as joint lead managers (JLMs) in connection with the debut Reg S  offering of senior unsecured notes due 2027 by HPCL-Mittal Energy Limited (HMEL). The dollar-denominated 10-year 5.25% bond raised USD375 million for the Indian refiner.

HPCL-Mittal Energy Limited (HMEL) is a joint venture between Hindustan Petroleum Corporation Limited and Mittal Energy Investment Pte Ltd, Singapore. HMEL primarily owns and operates the Guru Gobind Singh Refinery in Punjab, the State’s first oil and gas project and the tenth largest petroleum refining complex in India.

Commenting on the transaction, Allen & Overy partner Amit Singh said: “We are pleased to have advised the JLMs in connection with HMEL’s maiden bond offering. HMEL is one of many Indian companies looking to tap into the strong demand from international institutional investors for Indian bonds. This transaction is another testament to our reputation in the Indian debt capital markets. The deal is one of many significant high yield transactions which we have advised on in the region in recent months.”

The Allen & Overy Hong Kong team was led by partner Amit Singh, with support from counsel Michele Discepola, and associates Grace Yumul, Woo Suk Hong and Julia Cheung.