 "bonds, Vedanta, NTPC, European markets")
Vedanta Resources and NTPC Ltd on Wednesday raised a combined about $1.5 billion through two offshore bond issuances.
While Vedanta raised $1 billion, state-owned NTPC raised 500 million euros.
According to a statement from Vedanta, the company’s five-year bonds were priced at a coupon of 6.375%. The proceeds will be used primarily to fund its offer to purchase for cash some of its outstanding bonds. Vedanta’s bonds were privately placed.
Meanwhile, NTPC’s bond issuances were for 10 years, the longest euro-denominated bonds that an investment grade company has offered from the country.
The NTPC deal was launched at London for a price of euro
