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Vedanta unit accepts bids worth $1.75 billion for three-tranche dollar debt, bankers say

Vedanta Resources' subsidiary has successfully raised $1.75 billion through a dollar bond issuance aimed at refinancing over $2 billion in high-yielding debt. This strategic move is significant as it allows the company to reduce its borrowing costs by securing funds across six, eight, and eleven-year tenors at competitive rates, which are notably lower than initial guidance. The refinancing effort includes plans to repurchase existing higher-interest bonds, enhancing financial stability.