Nippon Steel makes last ditch effort to win US nod on US Steel deal, source says
The meeting comes amid bipartisan opposition to the deal by Donald Trump and Kamala Harris.
Vedanta Resources, parent of India’s Vedanta, has raised $900 million in its first dollar bond issue in more than two years at a coupon of 10.875%, the miner said on Wednesday.
The proceeds will be used to repay Vedanta’s existing bonds and related transaction costs, the company said.
The bonds are expected to be rated “B-” by S&P Global Ratings.
The issue received final orders of $1.45 billion from investors, an oversubscription of over 1.6 times, Vedanta said.
More than 102 investors took part in the subscription, where 41% bonds were allocated to Asia, 4% to Europe, Middle East and Africa, and 35% to the United States.
Barclays, Citigroup, Deutsche Bank, J.P. Morgan and Standard Chartered Bank acted as joint global coordinators and managers for the issue.
(Reporting by Meenakshi Maidas in Bengaluru; Editing by Sonia Cheema)
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