Vedanta Resources has issued US$1 billion in 6.375% bonds due in 2022, which is the largest single-tranche G3 high-yield bond issuance by an Indian company since 2015. The bonds will be listed on the Singapore Stock Exchange.
G3 refers to bonds issued in US dollars, yen and euros.
This deal involved two separate transactions run in parallel. The first transaction was the bond issuance and the second was a tender offer for some of Vedanta’s previously outstanding bonds, which were repaid by the new bond issuance.
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