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Vedanta Resources raises USD one billion via bonds

Press Trust of India  |  New Delhi 

Friday said it has raised USD one billion through bonds and will use the net proceeds mainly to repay debt.

"..through its wholly-owned subsidiary, Finance II plc...today raised USD 1 billion through bonds sold in two tranches resulting in blended average cost of 8.75 per cent and average maturity is 5.8 years," the company said in a filing to

The company intends to use the net proceeds primarily to repay debt of the company, it said.

The bonds, which were sold in two tranches, attracted interest from global investors across Europe, and Asia, it said.

"The transaction is undertaken as part of proactive liability management by the company and shall help extend average tenor of its outstanding debt from 3.2 years pre-transaction to about 4 years," it said.

(Hong Kong), and acted as joint global coordinators, joint lead managers and joint bookrunners.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 12 2019. 13:55 IST
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