Vedanta to raise $1.25 bn via bonds offering
Indian billionaire Anil Agarwal-led Vedanta Resources Plc has said it is raising 1.25 billion dollars through offering of bonds, which will be listed on the Singapore Exchange.
By Agencies |
LONDON: Indian billionaire Anil Agarwal-led Vedanta Resources Plc has said it is raising 1.25 billion dollars through offering of bonds, which will be listed on the Singapore Exchange.
The bonds would be sold in two tranches in a private offering to qualified institutional buyers, the mining firm said in a regulatory filing here on Wednesday.
The two tranches would consist of 500 million dollars worth 8.75 per cent bonds due 2014 and another worth 750 million dollars of 9.50 per cent bonds due 2018.
"Vedanta has obtained in-principle approval for the listing of the Bonds on the Singapore Exchange Securities Trading Ltd (the 'SGX-ST'). Admission of the Bonds to the official list of the SGX-ST is not to be taken as an indication of the merits of the offering, Vedanta or the Bonds," the filing said.
The offering is expected to close on July 2, subject to customary closing conditions.
J P Morgan Securities Ltd and Morgan Stanley & Co International Plc are acting as Joint Global Coordinators. Barclays Bank Plc, Citigroup Global Markets Ltd, Deutsche Bank AG, London Branch, J P Morgan Securities Ltd and Morgan Stanley & Co International Plc are acting as Joint Bookrunners and Joint Lead Managers.
The bonds would be sold in two tranches in a private offering to qualified institutional buyers, the mining firm said in a regulatory filing here on Wednesday.
The two tranches would consist of 500 million dollars worth 8.75 per cent bonds due 2014 and another worth 750 million dollars of 9.50 per cent bonds due 2018.
"Vedanta has obtained in-principle approval for the listing of the Bonds on the Singapore Exchange Securities Trading Ltd (the 'SGX-ST'). Admission of the Bonds to the official list of the SGX-ST is not to be taken as an indication of the merits of the offering, Vedanta or the Bonds," the filing said.
The offering is expected to close on July 2, subject to customary closing conditions.
J P Morgan Securities Ltd and Morgan Stanley & Co International Plc are acting as Joint Global Coordinators. Barclays Bank Plc, Citigroup Global Markets Ltd, Deutsche Bank AG, London Branch, J P Morgan Securities Ltd and Morgan Stanley & Co International Plc are acting as Joint Bookrunners and Joint Lead Managers.
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