4 Dec 2017 14:51
Vedanta Resources plc
16 Berkeley Street
London W1J 8DZ
Tel: +44 (0) 20 7499 5900
Fax: +44 (0) 20 7491 8440
www.vedantaresources.com
4 December 2017
Vedanta Resources receives two awards for Best High-Yield Bond
· Vedanta recognised for "Best High-Yield Bond" in Asia by FinanceAsia
· Vedanta recognised for "Best High-Yield Bond"/ Best Liability Management in South Asia by The Asset
London, December 4, 2017 - Vedanta Resources plc ("Vedanta") is pleased to announce that its US$ 1.0 billion bond issuance due in July 2022 has been awarded "Best High-Yield Bond" by two leading financial publications, FinanceAsia and The Asset.
These bonds were issued in January 2017 to proactively refinance Vedanta's 2018 and 2019 bonds through a tender offer. The issue received strong investor demand and was oversubscribed three times across the U.S, EMEA region and Asia, underlining Vedanta's extensive access to the capital markets and diversified funding sources.
Arun Kumar GR, Chief Financial Officer of Vedanta Resources said: "We are delighted to have won these prestigious awards, which highlight the market's widespread support for Vedanta's credit story. We have taken a number of proactive measures over the last year to extend maturities, optimise our funding structure and strengthen our balance sheet. We are committed to continuing to deliver on our financial priorities of disciplined capital allocation, increasing free cash flow and de-leveraging to ensure superior returns for all our stakeholders".
FinanceAsia
FinanceAsia is a leading online provider of daily news and analysis of capital markets and corporate finance across Asia's biggest markets. FinanceAsia was established to cover investment banking, capital markets and strategic corporate finance in Asia Pacific. Its audience includes corporate CFOs, CEOs, bank and broker executives and portfolio managers. FinanceAsia is a publication of Haymarket Financial Media. Vedanta was selected by FinanceAsia's editorial team, with the period of consideration between 1 December 2016 and 27 November 2017. The winners are announced and published in November 2017.
The Asset
The Asset is a monthly finance magazine, and is part of Asset Publishing and Research Ltd, an integrated multi-media company serving the corporate and financial community of Asia. The awards use a rigorous selection process and are adjudicated by The Asset's Board of Editors and the Asset Benchmark Research team who have several decades' worth of experience evaluating awards in Asia.
For further information, please contact:
Communications | Finsbury |
Arun Arora Head, Corporate Communications Tel: +91 124 459 3000 gc@vedanta.co.in | Daniela Fleischmann Tel: +44 20 7251 3801 |
Investors |
|
Ashwin Bajaj Director - Investor Relations
Sunila Martis Associate General Manager - Investor Relations
Veena Sankaran Manager - Investor Relations | Tel: +44 20 7659 4732 Tel: +91 22 6646 1531 ir@vedanta.co.in |
About Vedanta Resources
Vedanta Resources plc ("Vedanta") is a London listed diversified global natural resources company. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland and Australia. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care. To access the Vedanta Sustainable Development Report 2017, please visit http://www.vedantaresources.com/media/214366/vedanta_sd_report_2016-17.pdf. For more information on Vedanta Resources, please visit www.vedantaresources.com
Disclaimer
This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and/or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.