Vedanta Resources offers dollar bond with one of the highest yields in Asia

Mining giant Vedanta Resources Ltd. kicked off an offering of dollar bonds with one of the highest yields in Asia this year, as pressures at the company mount.

The firm is offering the securities with initial price guidance in the 14.5% area, according to a person familiar with the matter. It will use the money to finance a buyback offer for $670 million of notes maturing June 2021.

Strains have been increasing at the company, which is controlled by billionaire Anil Agarwal, after its attempt to delist Indian unit Vedanta Ltd. failed in October. The planned delisting would have given the parent