Vedanta Resources announced the results of the tender regarding its $1bn 6.375% bonds due 2022, where it offered to purchase up to $500mn in aggregate principal amount for cash. The company will buyback $468.775mn or about 93.7% of the $500mn amount capped. Investors who tendered their bonds by the early deadline of May 11 will receive par plus accrued and unpaid interest. Those who tender later will get $980 per $1000 in principal, plus interest. The settlement date for the tendered bonds is expected to be May 27, 2022. The bonds will now have an amount outstanding of $531.225mn.

Vedanta’s 2022s were at 99.83 cents on the dollar. Its other dollar bonds were trading higher with its 6.125% 2024s up 0.9 points to 77.75.

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