Vedanta Resources announces pricing of $1-bn bond offering

Company to use part of the proceeds to repay existing indebtedness

Vedanta Resources plc has priced offering of bonds in the aggregate principal amount of $1 billion of 6.375 per cent bonds due 2022.

The London-listed company intends to use net proceeds from this offering to fund its offer to purchase for cash any and all of its outstanding $750 million 9.50 per cent bonds due 2018 and $1.2 billion 6.00 per cent bonds due 2019, it said in a release today. The company also plans to use part of the proceeds to repay its other existing indebtedness.

Vedanta has received and accepted for purchase about $370.87 million of the 2018