Linklaters advised Vedanta Resources Finance II PLC on the issuance of its US$900m 10.875% senior bonds due 2029, unconditionally and irrevocably guaranteed by Vedanta Resources Limited and its subsidiaries, Twin Star Holdings Ltd. and Welter Trading Limited. The bonds are listed on the Singapore Exchange Securities Trading Limited, marking the first US dollar bond issuance by the company since February 2021. The proceeds were used to refinance certain of the company’s existing bonds.
Concurrently with the bond issuance, Linklaters advised the company on its tender offer for its 13.875% bonds due 2027 and 13.875% bonds due 2028. The tender offer is expected to expire on 1 October 2024.
The Vedanta Group is a globally diversified natural resource group engaged in exploring, extracting and processing minerals and oil and gas.
The Linklaters team was led by partner and Head of India Practice Amit Singh and capital markets partner Michele Discepola, with support from senior US associate Grace Yumul-Villanueva and associate Yosua Kanata.
Linklaters has an established reputation as the leading Indian capital markets practice, offering technical expertise and commercial awareness to create novel solutions to maximise investment opportunities. The firm has a longstanding relationship with the Vedanta Group, having recently advised on the qualified institutional placement for Vedanta Limited – the largest ever equity raise through the QIP route in India’s metals and mining sector.
