Clifford Chance advises on Vedanta Resources’ US$800 million Dual Tranche Bond Issuance

Global law firm Clifford Chance has advised Citigroup Global Markets Limited, Barclays Bank PLC, Deutsche Bank AG, Singapore Branch, J.P. Morgan Securities plc and Standard Chartered Bank as joint global coordinators and managers on Vedanta Resources Limited’s dual tranche bond issuance under Rule 144A and Regulation S. The issuance includes US$300 million 10.25% guaranteed senior bonds due 2028 and US$500 million 11.25% guaranteed senior bonds due 2031.

The bonds are listed on the Singapore Stock Exchange and the proceeds are intended to be used to refinance Vedanta’s outstanding bonds and related transaction costs.

The Clifford Chance team was led by Alan Yeung in Hong Kong with support from counsel Ying Chiang Chong and associate Alec Duncan in Singapore.

Vedanta is a global natural resources and technology company operating in the zinc-lead-silver, iron ore, steel, copper, aluminium, nickel, power and oil & gas sectors. Clifford Chance has advised on Vedanta’s US$900 million bond issuance and concurrent tender offers in October 2024, as well as Vedanta’s successful consent solicitation in relation to bonds issued by Vedanta in February 2024.