This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Vedanta Completes QIP; Pays Dues to KCM Creditors
July 22, 2024
Vedanta successfully completed its QIP in raising about $1bn, with Goldman Sachs and Morgan Stanley being among the top investors in the offering. Regarding this, Vedanta chairman Anil Agarwal said that the “overwhelming response to the Vedanta QIP underscores the huge confidence that the global investor community has in Vedanta”.
Separately, Vedanta also paid about $246mn to creditors and has regained control of the Konkola Copper Mines (KCM) in Zambia. This updates come along the lines of Vedanta agreeing to clear debts owed to the mine’s creditors after several years of dispute with the Zambian government. The official handover of KCM back to Vedanta is likely to happen next week.
Vedanta’s dollar bonds were steady with its 9.25% 2026s at 94.8, yielding 12.6%.
Go back to Latest bond Market News
Related Posts:
Vedanta Reduces Debt by Another $1bn
April 25, 2023
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.