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Vedanta Resources (VED)

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Wednesday 03 February, 2010

Vedanta Resources

Bond redemption notice

RNS Number : 5933G
Vedanta Resources PLC
03 February 2010
 



NOT FOR DISTRIBUTION IN OR TO THE U.S., CANADA, AUSTRALIA, JERSEY OR JAPAN

 

Vedanta Finance (Jersey) Limited US$725,000,000 4.60 per cent. Guaranteed Convertible Bonds due 2026 (the "Bonds")

 

On 8 January 2010 Vedanta Resources plc, the guarantor of the Bonds ("Vedanta") announced that Vedanta Finance (Jersey) Limited (the "Issuer") had issued an optional redemption notice in order to exercise its option to redeem the Bonds.

 

Vedanta today announces that it has received notification from The Bank of New York (Mellon) in its capacity as principal paying, transfer, conversion and exchange agent that it has received a total number of conversion notices representing (i) an aggregate principal amount of US$178,916,000 of the Bonds and (ii) 24.7% of the total issue size,

 

As a result of the such conversions,

 

i.    6,904,995  non voting global  depositary  receipts  ("GDRs") representing 6,904,995  ordinary shares of US$ 0.10 each in the share capital of Vedanta ("Ordinary Shares") have, or will be issued and listed on the Luxembourg Stock Exchange. The above 6,904,995 Ordinary Shares are held by the depository.

 

ii.    The aggregate principal amount outstanding of the Bonds to be redeemed on 08 February 2010 at their principal amount would be of US$546,084,000 (plus accrued interest). The redemption of the Bonds will be funded from existing cash resources.

 

Thereafter, the total number of issued and outstanding Ordinary Shares will be 296,093,663 of which 270,980,450 carry voting rights in relation to all circumstances at general meetings of Vedanta. Vedanta currently holds 18,208,218 Ordinary Shares in treasury.  

 

Enquiries to:

 

Vedanta Resources PLC

 

Ashwin Bajaj

Vice President - Investor Relations

 

Saurabh Kothari

AGM - Investor Relations

 

+91 22 6646 1531

investorrelations@vedanta.co.in


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