Vedanta Resources raises $1.1 billion through dual tranche bond issuance

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Vedanta Resources raises $1.1 billion through dual tranche bond issuance - Business Standard

Quick Summary:

Mining mogul Anil Agarwal's Vedanta Resources has raised USD 1.1 billion through a new bond offering to prepay existing liabilities, the company said in a Singapore exchange filing.

Vedanta Resources Finance II plc, a wholly owned subsidiary of Vedanta Resources, raised USD 1.1 billion through a new dual tranche issuance in international debt capital markets.

As per the exchange filing, the latest bond issuance consists of two tranches - a USD 550 million tranche of 5.5 years tenor at a 9.475 per cent interest rate and a USD 550 million tranche of 8.25 years tenor at a 9.850 per cent interest rate.