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Vedanta Resources raises $1 billion through bond issue

Vedanta Resources announced it had raised $1 billion through a bond issue and would use the proceeds to repay existing debt.

twitter-logo Reuters        Last Updated: April 12, 2019  | 13:21 IST
Vedanta Resources raises $1 billion through bond issue
Vedanta Resources announced it had raised $1 billion through a bond issue and would use the proceeds to repay existing debt.

Miner Vedanta Resources said on Friday it had raised $1 billion through a bond issue and would use the proceeds to repay existing debt.

The bonds, sold in two tranches, were issued through Vedanata's subsidiary Vedanta Resources Finance II plc and it attracted interest from global investors across Europe, North America and Asia, the company said.

India-listed Vedanta delisted from London last year but maintains a legal base in Britain.

The decision was seen by some as a prelude to a potentially broader deal with bigger miner Anglo American Plc. Credit Suisse (Hong Kong) Limited, J.P. Morgan Securities plc and Standard Chartered Bank acted as Joint Global Coordinators, Joint Lead Managers and Joint Bookrunners.

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Also Read: Essel Group Chairman Subhash Chandra reiterates commitment to repay all debtors in full

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