Vedanta taps high-yield investors for $1.25 billion

Vedanta and GS Caltex bring deals that show the debt markets are slowly coming back to life.

Vedanta Resources finalised the pricing on a $1.25 billion bond sale late last night û the largest-ever bond offer by an Indian corporate and the biggest high-yield offer by an Asian corporate.

The Indian mining company, which is headquartered and listed in London, raised the money in two tranches û one for $500 million to be repaid in five-and-a-half years and one for $750 million to be paid back in 10 years. The two tranches are rated a single notch...

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