Vedanta mines strong demand

High demand for Asia''s largest corporate high yield deal since the financial crisis.

Indian metals and mining company Vedanta Resources completed an upsized debut international bond deal in New York last Friday, raising $500 million from a five-year offering via Barclays and Deutsche Bank. Pricing of the deal was aggressive and shows just how well the Asian high yield sector has performed since the summer when investor resistance to all forms of non-investment grade from the region was at its highest.

Backed by a Ba2BB issuer rating, the...

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