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What will be the primary use of proceeds from Vedanta's bond issue by March 31, 2025?
2
Resolution / Starting Odds
Debt Prepayment • 25%
Capital Expenditure • 25%
Acquisitions • 25%
Other • 25%
Vedanta's official financial disclosures or press releases
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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