Vedanta mines $300m loan as funding spree continues

24 Jun 2009

Vedanta Resources is close to signing a $300m two year loan in a rare example of an Indian borrower tapping the offshore loan market for funding.

The Indian metals and mining company hopes to seal the club deal through six banks by June 30, according to bankers close to the transaction.

It will refinance part of a $1bn four year and nine month deal signed in August 2008 and is rumoured to pay around 550bp ...

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