Vedanta’s holding company -- Vedanta Resources through its wholly-owned subsidiary-- Vedanta Resources Finance II plc has raised $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 intends to use the net proceeds primarily to repay debt. The bonds, which were sold in two tranches, attracted interest from global investors across Europe, North America and Asia.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.
