India’s Vedanta allots Rs. 20 billion 9.45% nonconvertible debentures

By Tali Rackner

Norfolk, Va., Aug. 24 – Vedanta Ltd. placed 20,000 9.45% secured, rated, non-cumulative, redeemable, nonconvertible debentures of Rs. 1 million each, according to a notice with the Bombay Stock Exchange.

The long-term issue, aggregating to Rs. 20 billion, was allotted to the State Bank of India on Aug. 17.

Proceeds will be used to reduce the cost of funds.

Formerly Sesa Sterlite Ltd., Vedanta is a Panaji, India-based natural resources company focusing on zinc, lead, silver, aluminum, copper, iron ore, oil and gas and commercial power.

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