A subsidiary of UK-based Vedanta Resources has accepted bids worth $1.75 billion for a three-tranche issuance of dollar bonds, as it seeks to refinance high-yielding outstanding debt, three merchant bankers said on Friday.
Vedanta Resources Finance II has raised $500 million through six-year bonds at a coupon of 7.00%, $700 million through eight-year bonds at a 7.3750% coupon, and $550 million through 11-year bonds at a coupon of 7.75%, the bankers said.
