IOC to raise $500 million via syndicated loan by end-August

State refiner Indian Oil Corp or IOC will raise $500 million through a syndicated loan by the end of August, a senior company official said on Tuesday. The proceeds will be used for working capital requirements. "As per Reserve Bank of India guidelines, we can raise $750 million for capital expenditure, and $1 billion for working capital requirements," P.K. Goyal, director finance, told reporters. IOC, India's largest refiner...