We use cookies to improve your experience. By using BondbloX, you agree to our use of cookies.
Bond Market News
Vedanta Mandates for Issuance of Dollar Bonds; Launches Tender Offer & Call Notice
June 10, 2026
Vedanta Resources is set to refinance $5.2bn of dollar bonds and loans, aiming to cut borrowing costs by up to 300bp from the current average of ~10%. Proceeds will be used to refinance $3.6bn of bonds maturing between 2028 and 2033 and $1.6bn of loans due from 2028 onwards, all issued through the group entity Vedanta Resources Finance II PLC. The new issuance is expected to include 5Y, 7Y and 10Y amortising long bonds, smoothing the maturity profile and reducing medium-term refinancing risk. The refinancing is supported by recent credit rating upgrades from both S&P and Moody’s last month and a materially improved balance sheet, with net debt falling to $4.9bn as of March 2026 from $8.9bn five years earlier.
The group launched a tender offer for the following notes:
- Priority 1 — 11.25% 2031s at an early tender price of $1,121.3 per $1,000 in principal (inclusive of an early tender premium of $2.5 per $1,000 in principal). The bond is currently trading at a mid price of 111.75.
- Priority 2 — 9.85% 2033s at an early tender price of $1,098.7 per $1,000 in principal (inclusive of an early tender premium of $2.5 per $1,000 in principal). The bond is currently trading at a mid price of 109.25.
- Priority 3 — 9.475% 2030s at an early tender price of $1,078.2 per $1,000 in principal (inclusive of an early tender premium of $2.5 per $1,000 in principal). The bond is currently trading at a mid price of 107.29.
- Priority 4 — 9.125% 2032s at an early tender price of $1,069.4 per $1,000 in principal (inclusive of an early tender premium of $2.5 per $1,000 in principal). The bond is currently trading at a mid price of 106.50.
Any bonds tendered after the early tender deadline of June 23, will be redeemed at par subject to a maximum purchase amount at the discretion of the company.
In two other separate notices, Vedanta also announced:
- The redemption of up to $300mn of its 10.25% 2028s at $102.563. The bond is currently trading at a mid price of 102.65.
- The redemption of up to $1.2bn of its 10.875% 2029s at par. The bond is currently trading at a mid price of 106.34.
For more details, click here
Go back to Latest bond Market News
Related Posts:
Our Awards
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.