Vedanta Resources announces offering of five- and 10-year bonds

By Paul A. Harris

Portland, Ore., May 16 - Vedanta Resources plc announced in a press release that it intends to offer five-year and 10-year bonds in a private offering to qualified institutional buyers under Rule 144A and Regulation S.

BofA Merrill Lynch, Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBS Securities Inc. and Standard Chartered Bank are the joint global coordinators, joint lead managers and joint bookrunners. Deutsche Bank is also a joint bookrunner.

A global roadshow for the offering will commence on Friday.

The offering will be subject to market and other conditions.

Vedanta intends to use the proceeds to refinance a portion of its 2010 term loan facility that was used to partly finance its acquisition of a controlling stake in Cairn India, and which will result in a cancellation of Vedanta's commitments under a bridge facility.

Proceeds will also be used for general corporate purposes.

Vedanta is a London-based diversified global natural resources company.

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