Finance / India
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Vedanta's High Yield Offering Succeeds
July 2008 | IPO News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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On June 25 integrated metals and mining holding group Vedanta Resources finalised its US$1.25bn bond sale, the largest ever high yield offering by an Indian corporate. Vedanta Resources, headquartered and listed in London, has principal operations in Indian aluminium, copper, zinc and lead, as well as significant copper operations in Zambia and Australia. Its subsidiaries include Sterlite Industries, one of India's largest mining companies and Konkola Copper Mines, the largest mining company in Zambia. It is currently engaged in a range of expansion operations requiring roughly US$2bn in investments.