Vedanta Raises $900 Million in First Dollar Bond Issue at 10.875%, 1.6 Times Oversubscribed

Sep 12, 2024, 07:10 AM

Vedanta Resources has successfully raised $900 million through its first dollar bond issue in over two years. The bond issue was priced at a final price guidance of 10.875% and was oversubscribed by 1.6 times. The funds raised will be used to prepay existing bonds. Following the announcement, Vedanta shares gained 2.5% on the BSE on Thursday. The likely rating of the bond issue was not disclosed.