Billionaire Agarwal’s Vedanta Tests India Junk Bond Demand
- Proceeds will be used to partially fund privatization of unit
- Vedanta offering bond with initial guidance of around 13.25%
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Billionaire Anil Agarwal’s Vedanta Resources is marketing a dollar bond in a crucial test of investor appetite for Indian junk debt.
The commodities giant is offering a three-year amortizing note with an initial price guidance of around 13.25%, according to a person familiar with the matter.