Vedanta prices high-yield jumbo despite volatility

Vedanta and Lonking raise a combined $2 billion from international bond investors in a volatile market.

Vedanta prices high-yield jumbo despite volatility
Vedanta's aluminium refinery at Lanjigarh

Indian billionaire Anil Agarwal’s Vedanta Resources priced a record-breaking $1.65 billion high-yield bond early Friday morning after a three-year absence from the international bond market.

The UK-listed mining company raised the money through a dual-tranche five- and 10-year issue that is Asia’s biggest high-yield corporate bond to date, according to Dealogic excluding bonds issued by US entities owned by Asian parents.

The jumbo deal crossed the line despite myriad challenges...

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