Vedanta Resources’ $500 mn bond issue gets 3 times oversubscription

Mining conglomerate Vedanta Resources has raised USD 500 million through the sale of a seven-year US dollar-denominated bond issue, which was oversubscribed three times.

- PTI

Vedanta Resources Finance II ple, a subsidiary of Vedanta Resources, said in an exchange filing that its USD 500 million bond issue attracted bids exceeding USD 1.6 billion, more than triple the issue size.

The net proceeds from the offering will be used to repay existing debt and for general corporate purposes.