Economic TimesLean R·
Vedanta unit accepts bids worth $1.75 billion for three-tranche dollar debt, bankers say
Vedanta Resources' subsidiary has successfully raised $1.75 billion through a dollar bond issuance to refinance over $2 billion in high-yielding debt. The company secured funds across six, eight, and eleven-year tenors at competitive rates, significantly lower than initial guidance. This move aims to reduce the cost of borrowing and includes plans to repurchase several existing, higher-interest bonds.
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