Vedanta Resources Ltd., on Thursday, said it had raised $1.4 billion (about ₹10,500 crore) via bonds, which would be primarily used to fund the delisting of its Indian flagship firm. “Vedanta Resources Ltd. (VRL) hereby announces the successful pricing of senior secured bonds. The issue size was $1.4 billion, comprising three-year amortising bonds, with an annual coupon rate of 13%,” the company said. Funds from the bond issuance will primarily be used to support the intended offer to buy out the equity shares of Vedanta Ltd. (VDL) held by public shareholders, it said. The bond issuance follows commitments for $1.75 billion that VRL had received earlier for a three-month term-loan facility.
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