Global law firm Clifford Chance has advised Vedanta Resources on its US$1.75 billion bond issuances, and concurrent tender offers and consent solicitations as part of a broader refinancing transaction.
The transaction included the issuance of US$1.75 billion in aggregate principal amount of guaranteed senior bonds across three tranches: US$500 million 7.000% notes due 2032, US$700 million 7.375% notes due 2034 and US$550 million 7.750% notes due 2037. The proceeds will be used to repay existing bonds maturing between 2028 and 2033, including through concurrent tender offers and redemptions made available through the concurrent consent solicitations.
Partners Alan Yeung and Gareth Deiner advised on the transaction, with support from counsel Stephanie Liman and associate Adam Fong.
Alan said, “This transaction highlights how debt capital markets and novel liability management solutions can be combined to support complex and broad refinancing objectives. Drawing on our experience across both areas, we worked closely with Vedanta and the parties involved to help deliver a comprehensive refinancing solution.”
Clifford Chance has been a longstanding adviser on international financing and debt capital markets transactions by Vedanta Resources over the years. The firm’s role on this transaction together with its recent advice on Philippine Airlines’ landmark US$300 million high-yield bond offering underscores its leading debt capital markets practice across Asia Pacific.
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