Investors look for long-term plan from Vedanta after $1 billion bond sale

Company's failure to simplify its corporate layout by delisting its Indian unit Vedanta Ltd. in Oct. had triggered concerns on its ability to refinance its debt maturities.

Investors in Vedanta Resources Ltd. are turning their attention to the miner’s longer-term plan to streamline a complex group structure that has kept the parent from easily accessing cash at its units.

Vedanta Resources, controlled by billionaire Anil Agarwal, allayed some immediate concerns this week when it received vital funding by selling $1 billion notes due 2024 at 13.875%, albeit at one of the highest yields for a dollar bond in Asia this year. The company plans to use that cash to finance a buyback offer for $670 million of notes due next year, and the rest to repay other