Vedanta Resources' Bold Bond Move: A Triple Oversubscription Triumph

Vedanta Resources has successfully raised $500 million through a seven-year US dollar-denominated bond issue, which was oversubscribed threefold, signaling robust investor confidence.

The company's subsidiary, Vedanta Resources Finance II plc, announced in an exchange filing that the bond attracted bids surpassing $1.6 billion, more than three times the issue size. The proceeds will be directed towards repaying existing debts and general corporate purposes.

This move is part of Vedanta's broader strategy of debt management and maturity profile elongation, complementing its strong financial performance in recent years.

(With inputs from agencies.)