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Vedanta raises $ 805 mln in a day via convertible bond issue |
 Vedanta Resources a London listed company controlled by business tycoon Anil Agarwal, raised $ 805 million (about Rs. 3715 crore) through a convertible bond issue.
The issue which opened on March 02 and closed on the same evening had a
coupon rate of 4 per cent and a conversion premium of 37.5 per cent.
Some 60 overseas investors invested in the bond. The bond the second
issue of this year is aimed to provide funds for partly refinancing the
existing debts of the company and partly to invest in Aluminium project
in Orissa. Vedanta has so far raised $ 4.8 billion through bond issue
and ADR sales this year. It makes the company the biggest foreign
investor in India so far.
During the quarter ended December 31, 2009 (Q-3) Vedanta achieved its
highest ever Zinc and Lead mined metal production of 200 tonnes.
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