ONGC to raise $900M in overseas bond issue

State-run Oil and Natural Gas Corp  will raise $900 million through overseas bonds to fund an acquisition in Azerbaijan, Chairman Sudhir Vasudeva told reporters on Thursday.

ONGC Videsh, a unit of India's largest energy explorer was planning to raise up to $900 million to fund the buy, a company executive said in November. Two sources said separately the company had hired banks for the fund raising.