Information  X 
Enter a valid email address

Vedanta Resources (VED)

  Print      Mail a friend       Annual reports

Tuesday 24 January, 2006

Vedanta Resources

Convertible Bond Pricing

Vedanta Resources PLC
24 January 2006


THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO US PERSONS
       OR IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, OR JAPAN

24 January 2006

Vedanta Resources plc Completes the US$ 725 million Convertible Bonds due 2026

Vedanta Resources plc ('Vedanta') announces that the terms for the Vedanta
Resources plc US$ 725 million bonds due 2026 have been fixed as follows:

-     initial conversion price has been set to £14.54 per share, which
      represents a 48 per cent premium over the volume weighted average price 
      from launch to pricing of £9.825 on the London Stock Exchange (LSE);

-     the cash coupon / yield to maturity has been set to 4.60 per cent per
      annum calculated on a semi-annual basis ;

The Lead Manager has an option to increase the issue size by US$ 125 million.

It is intended that applications will be made for the Bonds to be listed on the
Professional Securities Market (PSM) of the London Stock Exchange and for the
depositary receipts to be listed on the Euro MTF of the Luxembourg Stock
Exchange or in each case, another recognised market or stock exchange.

Barclays Capital is the Sole Bookrunner and Lead Manager for the offering.

For more information, please contact:

Barclays Capital
Douglas Decker
+44 20 7773 8302

Vedanta Resources plc
Sumanth Cidambi
Associate Director - Investor Relations
+91 (22) 5646 1531

Finsbury
Robin Walker
+44 20 7251 3801

THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY IN OR INTO THE
UNITED STATES OR TO ANY US PERSON (AS DEFINED IN REGULATION S UNDER THE US
SECURITIES ACT OF 1933, AS AMENDED ('REGULATION S'). THIS ANNOUNCEMENT IS NOT AN
OFFER TO SELL SECURITIES OR THE SOLICITATION OF ANY OFFER TO BUY SECURITIES, NOR
SHALL THERE BE ANY OFFER OF SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER
OR SALE WOULD BE UNLAWFUL.THE SECURITIES MENTIONED IN THIS ANNOUNCEMENT HAVE NOT
 BEEN AND WILL NOT BE REGISTERED IN THE UNITED STATES UNDER THE UNITED STATES 
SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED
STATES ABSENT REGISTRATION OR EXEMPTION FROM REGISTRATION UNDER THE SECURITIES 
ACT. THERE WILL BE NO PUBLIC OFFER OF THE SECURITIES IN THE UNITED STATES.

THIS ANNOUNCEMENT IS DIRECTED ONLY AT PERSONS WHO (I) ARE OUTSIDE THE UNITED
KINGDOM OR (II) HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS
OR TO WHOM THIS ANNOUNCEMENT MAY OTHERWISE BE DIRECTED WITHOUT CONTRAVENTION OF
SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (ALL SUCH PERSONS 
TOGETHER BEING REFERRED TO AS 'RELEVANT PERSONS'). THIS ANNOUNCEMENT IS DIRECTED
ONLY AT RELEVANT PERSONS AND MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO 
ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS 
PRESS RELEASE RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED
IN ONLY WITH RELEVANT PERSONS. IN ADDITION, IF AND TO THE EXTENT THAT THIS
ANNOUNCEMENT IS COMMUNICATED IN, OR THE OFFER OF THE SECURITIES TO WHICH IT
RELATES IS MADE IN, ANY EEA MEMBER STATE THAT HAS IMPLEMENTED DIRECT IVE 2003/71
/EC (TOGETHER WITH ANY APPLICABLE IMPLEMENTING MEASURES IN ANY MEMBER STATE, THE
PROSPECTUS DIRECTIVE'). THIS ANNOUNCEMENT AND THE OFFER ARE ONLY ADDRESSED TO
AND DIRECTED AT PERSONS IN THAT MEMBER STATE WHO ARE QUALIFIED INVESTORS WITHIN
THE MEANING OF THE PROSPECTUS DIRECTIVE (OR WHO ARE OTHER PERSONS TO WHOM THE
OFFER MAY LAWFULLY BE ADDRESSED) AND MUST NOT BE ACTED ON OR RELIED ON BY OTHER
P ERSONS IN THAT MEMBER STATE.

STABILISATION FSA/ICMA. BARCLAYS CAPITAL WILL BE THE STABILISING MANAGER




                      This information is provided by RNS
            The company news service from the London Stock Exchange