Arab Petroleum Investments Corporation joined the facility as lead arranger while Tokai Bank Ltd's Singapore branch was the arranger. The proceeds will be used by IOC to finance its crude oil imports. A total of 15 banks joined the deal during general syndication. The three-and-half year term-loan facility was launched in November' 2000, at the initial facility size of $150 million, but was over subscribed during general syndication which concluded in December 2000. The facility size was subsequently increased to $200 million.

The participating banks are Bank of India, DG Bank Deutsche Genossebschaftsbank AG, Frankfurt, GZ-Bank AG's Singapore branch, The Sanwa Bank Ltd's Singapore branch, Abu Dhabi Commercial Bank, Banco National Ultramarino SA's Macau branch, among others.