Vedanta mines for $1.4bn to fund delisting

By Morgan Davis
18 Aug 2020

Metals and mining firm Vedanta Resources’ $1.4bn bond this week took it one step closer to the planned delisting of a subsidiary. But the company took an unusual approach to the deal — a rare bond outing for a take-private in Asia — by offering investors a secured and callable amortising bond. Morgan Davis reports.

Vedanta Resources told investors in May that it planned to delist its Indian commodities subsidiary from the Bombay Stock Exchange and the National Stock Exchange of India. Monday’s bond was part of the company’s efforts to fund the delisting. Vedanta Resources, as the parent company, will acquire all ...

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