Vedanta Ltd., the Indian resources conglomerate controlled by billionaire Anil Agarwal, plans to raise at least 10 billion rupees ($105 million) through local-currency bonds in the next few weeks, according to people familiar with the matter, as more companies tap the debt market amid signals interest rates may rise.
The planned notes will have maturity that could range between three years to seven years, the people said, asking not to be identified discussing private information. The proceeds will largely be used to refinance debt, they said, adding that the bankers participating are likely to be finalized soon.
