Vedanta raises $100 M to 2010 bonds

By siliconindia staff writer   |   Friday, 21 January 2005, 08:00 Hrs
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NEW DELHI: London stock Exchange listed Indian mining giant Vedanta Resources has raised $100 million by reopening its existing 2010 bonds.

The total size of the 2010 bond issue is now $600 million. Vedanta originally sold $500 million of the 5-1/4-year bonds in December.

The extra $100 million was priced late Thursday at 99.472 percent to yield 305 basis points over 5-year U.S. Treasuries, the source said.

Last month, Vedanta priced the 2010 bonds at 316 bps over 5-year Treasuries.

Vedanta said last month the proceeds of the offering would be used to support the company's capital investment and for general corporate purposes.

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