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What will be the final credit rating assigned to Vedanta's bond issue by Dec 31, 2024?
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Resolution / Starting Odds
Investment Grade (BBB- or higher) • 25%
Non-Investment Grade Speculative (BB+ to BB-) • 25%
Highly Speculative (B+ to B-) • 25%
Substantial Risks (CCC+ or lower) • 25%
Credit rating agencies' official announcements (S&P, Moody's, Fitch)
Story
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.
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