HPCL to raise $ 150mln via Japanese external commercial borrowings

New Delhi, Feb 2 (UNI) State-run Hindustan Petroleum Corporation Ltd (HPCL) today said it is in the process of finalising Japanese external commercial borrowings to raise 100 million dollars with a green shoe option of 50 million dollars for a period of five years.

''The amount raised will be utilised to meet the capital expenditure of the company,'' a company statement said.

The arrangement is being made through HDFC Bank and DEPFA Bank, it added.

UNI