Vedanta Resources raises $1.4 bn to support delisting of Indian flagship firm

Vedanta Resources Ltd on Thursday said it has raised USD 1.4 billion (around ₹10,500 crore) via bonds, which would be primarily used to fund the delisting of its Indian flagship firm.

“Vedanta Resources Ltd (VRL) hereby announces the successful pricing of senior secured bonds. The issue size was USD 1.4 billion, comprising three-year amortising bonds, with an annual coupon rate of 13%,” the company said.

Funds from the bond issuance will primarily be used to support the intended offer to buy out the equity shares of Vedanta Ltd (VDL) that are held by public shareholders, the statement said.