Vedanta Resources pIc (“Vedanta”, LSE: VED) announced the pricing of the offering of bonds in the aggregate principal amount of US$I. 7 billion. The bonds are being offered and sold in two tranches, consisting of (i) US$I.2 billion aggregate principal amount of 6% Bonds due January 2019 and (ii) US$500.0 million aggregate principal amount of 7.125% Bonds due May 2023 (together, the “Bonds”).
This is a landmark transaction for Vedanta, and Vedanta believes this represents one of the largest corporate high yield bond issuances out of Asia ex-Japan.
Anil Agarwal, Chairman of Vedanta Resources pIc said, ”This transaction demonstrates the financial strength and global recognition of Vedanta Group as major natural resources corporate. It is our fourth bond transaction and each time we have been met with increasingly overwhelming response by investors.” [Read more...]