By Reshmi Basu
New York, Dec. 10 - Vedanta Resources plc priced $500 million of notes due Feb. 22, 2010 (BB/Ba2) at 99.739 with a 6 5/8% coupon to yield 6.68%, or mid-swaps plus 275 basis points, according to a market source.
The book was more than $1.5 billion subscribed.
Barclays Capital and Deutsche Bank ran the Rule 144A/Regulation S offering.
Vedanta is India's largest producer of copper and zinc.
| Issuer: | Vedanta Resources plc
|
| Issue: | Senior unsecured notes
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| Amount: | $500 million
|
| Maturity: | Feb. 22, 2010
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| Coupon: | 6 5/8%
|
| Issue price: | 99.739
|
| Yield: | 6.68%
|
| Spread: | Mid-swaps plus 275 basis points
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 21
|
| Bookrunners: | Barclays Capital, Deutsche Bank
|
| Ratings: | Moody's: BB
|
| S&P: Ba2
|
| Price talk: | Mid-swaps plus 275 basis points
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