Vedanta gets $6 billion debt commitment for Cairn India purchase

By Sara Rosenberg

New York, Nov. 19 - Vedanta Resources plc has received a commitment for $6 billion of debt financing to help fund its acquisition of 51% to 60% of Cairn India Ltd. for $8.5 billion to $9.6 billion, according to a news release.

Barclays Capital, Citigroup, Credit Suisse, Goldman Sachs, JPMorgan, Morgan Stanley, Royal Bank of Scotland and Standard Chartered are the lead banks on the deal.

The financing is comprised of four tranches with maturities of between 18 months and three years.

General syndication of part of the financing will commence shortly, the release said.

Vedanta Resources is a London-based diversified metals and mining company. Cairn is an India-based oil and gas exploration and production company.

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