By Paul A. Harris
St. Louis, Jan. 20 - Vedanta Resources plc priced a $100 million add-on to its 6 5/8% senior notes due Feb. 22, 2010 (existing ratings Ba2/BB+) at 99.472, resulting in a 6.742% yield to worst, according to an informed source.
Emerging markets, high-yield and investment-grade accounts took part in the deal, the source added.
Barclays Capital ran the books.
Proceeds will be used for general corporate purposes.
The original $500 million issue priced at 99.739 on Dec. 10, 2004, resulting in a yield of 6.68%. The total issue size following Thursday's add-on is $600 million.
Vedanta, India's largest producer of copper and zinc, is based in London.
| Issuer: | Vedanta Resources plc
|
| Amount: | $100 million
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| Maturity: | Feb. 22, 2010
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| Security description: | Add-on to the 6 5/8% senior notes
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| Bookrunner: | Barclays Capital
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| Coupon: | 6 5/8%
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| Price: | 99.472
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| Yield to worst: | 6.742%
|
| Spread: | 305 basis points
|
| Call protection: | Non-callable
|
| Trade date: | Jan. 20
|
| Settlement date: | Jan. 26, with accrued interest
|
| Existing ratings: | Moody's: Ba2
|
| Standard & Poor's: BB+
|
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