Vedanta Resources raises $1.2 bn ahead of open offer for Indian listed unit
NEW DELHI : Vedanta Resources on Friday said it has raised $1.2 billion in a bond offering that saw strong investor interest.
The 8.95% bonds due for March 2025 “will be guaranteed by the company and two wholly-owned indirect subsidiaries of the company, namely Twin Star Holding Ltd and Welter Trading Limited,” it said in a statement.
Vedanta said it will use the proceeds of the bonds for the acquisition of equity shares of the Indian subsidiary as well as servicing existing debt.
