Vedanta prices $1.7bn bonds

FTSE 100-listed miner Vedanta Resources yesterday announced that it had priced two bonds amounting to $1.7bn (£1.1bn), in order to refinance existing debt. The new facility is being issued in two tranches, consisting of a $1.2bn six per cent bond due January 2019 and a $500m 7.125 per cent bond due May 2023. Bank of America Merrill Lynch, Barclays, Citigroup, JP Morgan, RBS and Standard Chartered are joint bookrunners and lead managers.