Vedanta Resources PLC
13 December 2004
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION INTO OR IN THE UNITED STATES OF
AMERICA, CANADA, AUSTRALIA OR JAPAN. THIS RELEASE IS FOR INFORMATION PURPOSES
ONLY AND DOES NOT CONSTITUTE AN OFFER OR AN ADVERTISEMENT OF AN OFFER OF
SECURITIES FOR SALE IN THE UNITED STATES OR IN ANY OTHER JURISDICTION.
13th December 2004
Vedanta Resources announces US$500 million global bond offering
Vedanta Resources plc has successfully priced its debut issue of $500m in a
global US$ bond offering. The offering consists of 6 5/8% notes, due February
Institutional investors from around the world participated in this benchmark
transaction, 3 times oversubscribed, with demand of over $1.5bn. It is the
largest bond issue by a company with predominantly Indian assets.
The proceeds of the offering will be used to support the capital investment in
Vedanta Resources' growth pipeline and for general corporate purposes.
Peter Sydney-Smith, Finance Director at Vedanta said:
'Our $500m bond follows our listing in London last December. It represents a
major step in developing our capital base to support Vedanta's growth. We have a
strong balance sheet, with a balanced maturity profile and we are pleased that
investors from around the world have shown their confidence in Vedanta.
Anil Agarwal, Chief Executive at Vedanta said:
'We remain focused on the strategy set out at the time of our listing. This bond
issue forms an important part in our strategy, supporting our $2.2bn growth
pipeline. I look forward to reporting on the continued progress of our projects
in due course.'
The bonds referred to herein (the 'Bonds') have not been, and will not be,
registered under the US Securities Act of 1933, as amended (the 'US Securities
Act') and may not be offered or sold within the United States (as defined in
Regulation S under the US Securities Act ('Regulation S')), absent registration
under the US Securities Act or an applicable exemption from the registration
requirements. There will be no public offering of the Bonds in the United States
This release does not constitute an offer of securities for sale in the United
Neither this release nor any copy of it is for distribution, directly or
indirectly, in or into the United States (as defined in Regulation S)
For further information, please contact:
Peter Sydney-Smith, Finance Director Tel: +44 20 7499 5900
John Smelt, Head of Investor Relations +44 787 964 2675
Vedanta Resources plc
James Murgatroyd Tel: +44 20 7251 3801
Notes to Editors
Vedanta is a London listed diversified metals and mining group. Our principal
operations are located throughout India, with further operations in Zambia and
Australia. The major metals produced are aluminium, copper, zinc and lead.
This information is provided by RNS
The company news service from the London Stock Exchange