About 57% of the total orders were placed from Asia Pacific. The Tender Offer is conditioned upon, among other things, the successful completion of the Company's concurrent offering (the "Financing Transaction") of new notes (the "New Notes") to be issued by a wholly owned subsidiary of the Company in reliance on an exemption from the registration requirements of the U.S. Securities Act of 1933 (the "Securities Act"). Among the three notably large trades, the first saw 3.7 crore shares exchange hands at Rs 159.7 apiece. In addition to the Early Tender Offer Consideration, Holders will also receive accrued and unpaid interest, and additional amounts, if any, in respect of any Notes purchased in the Tender Offer from, and including the last interest payment date to, but excluding, the Early Payment Date. Vedanta Resources Latest breaking news, pictures, photos and Video News. London-based Vedanta Resources Ltd (VRL) has raised its stake in its India listed unit, Vedanta to 55.11 percent by buying from open market shares worth Rs 2,959 crore. Under the offer, shareholders will also be entitled to receive the previously announced dividend of US$0.41 per Vedanta share. However, no assurance can be given that the Financing Transaction will be completed successfully. Share this article. Vedanta Resources Ltd. on December 10, sold $1 billion of securities at one of the highest yields for a dollar bond in Asia this year. Vedanta Resources Limited (formerly known as Vedanta Resources plc) is a globally diversified metals and mining, oil and gas and power generation company. Vedanta Resources slapped with $100 million settlement in UK court. While the Company's businesses are principally located in India, it also has operations in Zambia, Namibia, South Africa, the UAE, Japan, South Korea and Taiwan. Vedanta Ltd.’s stock touched its highest in nearly a year after 16.6 crore shares of the Anil Agarwal-led mining conglomerate exchange hands in multiple large trades. Share this article. We extract and process minerals, oil and gas, engage more than 65,000 employees and contractors, primarily in India, Africa, Ireland and Australia. LONDON, Dec. 18, 2020 /PRNewswire/ — VEDANTA RESOURCES LIMITED Find Vedanta Resources news headlines, photos, videos, comments, blog posts and opinion at The Indian Express. LONDON, Dec. 18, 2020 /PRNewswire/ -- VEDANTA RESOURCES LIMITED (formerly known as Vedanta Resources … A sell-off across the high-yield debt markets due to the rapid global spread of coronavirus has added to the weakness across dollar-denominated bonds of the diversified metals and mining group. Vedanta appoints Ajay Kapur as CEO of aluminium, power business "Vedanta is a progressive organisation with a wide presence across natural resources, strong asset footprint, financial strength and above all strong values. Accordingly, the Tender Offer is not being made to the general public in the United Kingdom. Any tender of Notes for purchase pursuant to the Tender Offer from a Holder that is unable to make these representations will not be accepted. Vedanta Resources Limited is a global diversified metals and mining company with its headquarters in London, England.It is the largest mining and non-ferrous metals company in India and has mining operations in Australia and Zambia and oil and gas operations in three countries. Similarly, statements that describe the Company's objectives, plans or goals also are forward-looking statements. Find Vedanta Resources Latest News, Videos & Pictures on Vedanta Resources and see latest updates, news, information from NDTV.COM. If a jurisdiction requires the Tender Offer to be made by a licensed broker or dealer, and any of the Dealer Managers or any of their respective affiliates is such a licensed broker or dealer in such jurisdictions, the Tender Offer shall be deemed to be made by such Dealer Manager or such affiliate (as the case may be) on behalf of the Company in such jurisdiction. The Tender Offer is not being made, and has not been approved, by an authorized person for the purposes of section 21 of the Financial Services and Markets Act 2000 (the "FSMA"). Vedanta Resources Ltd, the promoter entity of billionaire Anil Agarwal’s Vedanta Ltd, on Thursday bought 185 million shares or a 4.98% stake in the company for … The firm launched the issuance on Friday. bids, with asset managers taking up most of it. In light of these risks, uncertainties and assumptions, the forward-looking events might or might not occur. “Given that they can raise their stake by another 5% by April, which is not very far from now, can keep the stock prices firm going ahead,” Khemka said. News Vedanta Resources Limited Announces the Tender Offer Results as at the Early Tender Deadline and an Increase to the Tender Offer Consideration with respect to the Tender Offer for its 8.25% Bonds due 2021. As such, the settlement date for the Notes which were validly tendered and not validly withdrawn on or prior to the Early Tender Deadline is expected to be December 22, 2020 (the "Early Payment Date"), subject to the terms and conditions described in the Tender Offer Memorandum. The Final Payment Date is expected to be January 6, 2021 (the "Final Payment Date"), or two business days following the Expiration Time. Vedanta’s 52-week high was Rs 179.95, where as its value of stake in Hindustan Zinc itself comes to about Rs 131 per share. (Bloomberg) -- Mining giant Vedanta Resources Ltd. was able to secure much-needed funds by selling $1 billion of notes at one of the highest yields for a dollar bond in Asia this year.The company priced the January 2024 bond on Wednesday at a yield of 13.875%, according to a person familiar with the matter, who asked not to be identified because they aren’t authorized to speak about it. Debt securities of Vedanta Resources have taken a beating after the group’s credit rating was downgraded by Moody’s Investor Services last week. Vedanta Resources, the holding company of Vedanta, will issue $400 million in notes to an entity of US-based hedge fund Oaktree Capital Group to meet its immediate liquidity requirements. Its main products are Zinc, Lead, Silver, Oil & Gas, Iron Ore, Steel, Aluminium and Power. THE TENDER OFFER MEMORANDUM SHOULD BE READ CAREFULLY BEFORE A DECISION IS MADE WITH RESPECT TO THE TENDER OFFER. The Tender Offer is being made solely pursuant to, and will be governed by the terms and conditions of, the Tender Offer Memorandum. In addition, the Company hereby announces its decision to increase the Tender Offer Consideration (as defined in the Tender Offer Memorandum) from (i) U.S.$980 per U.S.$1,000 principal amount of Notes that are validly tendered at or prior to the Expiration Time (as defined below) but after the Early Tender Deadline that are accepted for purchase pursuant to the Tender Offer to (ii) U.S.$999.0 per U.S.$1,000 principal amount of Notes that are validly tendered at or prior to the Expiration Time but after the Early Tender Deadline that are accepted for purchase pursuant to the Tender Offer. The government of Zambia has defended its efforts to kick London-based copper miner Vedanta Resources out of the country, in an escalating row … The Tender Offer is not being made in any Member State of the European Economic Area or in the United Kingdom, other than to persons who are "qualified investors" as defined in Regulation (EU) No 2017/1129 (as amended, the "Prospectus Regulation"), or in other circumstances falling within Article 1(4) of the Prospectus Regulation. News provided by. NOT FOR DISTRIBUTION TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. The company came under criticism earlier this year after protestors were massacred outside the firm's southern Indian copper smelter. About 57% of the total orders were placed from Asia Pacific. Vedanta Resources’ effort to delist the Indian unit failed in October. Cision Distribution 888-776-0942 LONDON, Dec. 4, 2020 /PRNewswire/ -- Vedanta Resources Limited (formerly known as Vedanta Resources … This announcement contains both historical and forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Latest news and coverage 22 Mar 2019 KCM gets a new CEO www.lusakatimes.com 17 Mar 2019 Statement regarding protest at Lanjigarh plant 06 Mar 2... News transforming elements – the story of Vedanta Resources Anil Agarwal-controlled Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group to meet the liquidity needs. The Company will announce the aggregate principal amount of Notes tendered as at the Expiration Time, whether the conditions to the Tender Offer have been satisfied or waived, the principal amount of Notes accepted for purchase by the Company and the aggregate principal amount of Notes that will remain outstanding following completion of the Tender Offer as soon as reasonably practicable following the Expiration Time. Indian mining giant Vedanta Resources has been ordered by London High Court to pay over USD 100 million to a Zambian investment company related to a 2013 copper price agreement, the state … DLF Atria, Gulmohur Marg, DLF Phase 2, Sector 25, Gurugram Haryana 122002, India The Company expects to complete and settle the Financing Transaction on December 21, 2020, which would satisfy the Financing Condition (as defined in the Tender Offer Memorandum) of the Tender Offer. Vedanta Resources Limited Dec 03, 2020, 19:42 ET. News provided by. Vedanta Resources Limited (formerly known as Vedanta Resources plc) is a globally diversified metals and mining, oil and gas and power generation company. The Early Tender Deadline of the Tender Offer occurred at 5:00 P.M., New York City time, on December 17, 2020 (such time and date, the "Early Tender Deadline"). The offer of 825 pence per share represents a 27.6% premium to the London-listed firm's Friday closing price of 646.8 pence. Vedanta Resources currently owns 51.06% of Vedanta Ltd. On Wednesday, the stock closed at 90.1 rupees, down nearly 42% so far this year. The firm is offering the securities with initial price guidance in the 14.5% area, according to a person familiar with the matter. Explore more on Vedanta Resources Plc. (Bloomberg) -- Mining giant Vedanta Resources Ltd. was able to secure much-needed funds by selling $1 billion of notes at one of the highest yields for a dollar bond in Asia this year.The company priced the January 2024 bond on Wednesday at a yield of 13.875%, according to a person familiar with the matter, who asked not to be identified because they aren’t authorized to speak about it. India Business News: London-based Vedanta Resources Ltd (VRL) has raised its stake in its India listed unit, Vedanta to 55.11 per cent by buying from open market shares wo The Company, together with its subsidiaries, is primarily engaged in oil and gas, zinc, copper, iron ore, lead, silver, steel, aluminium, commercial power generation, glass substrate, and port operation businesses. The notes will be partly secured by shares in Mumbai-listed unit Vedanta Ltd., according to separate exchange filings from Vedanta and the U.S. hedge fund. Vedanta plans to inject Rs 15000 cr in Odisha. Share this article. Cautionary Note Concerning Forward-Looking Statements. Vedanta Resources News. Explore more on Vedanta Resources. Under-fire mining conglomerate Vedanta Resources has been valued at £2.3bn in a deal "agreed in principle" that would give chairman Anil Agarwal’s family trust Volcan Investments the rest of the company. VEDANTA RESOURCES LIMITED (formerly known as Vedanta Resources plc) (the "Company")Offer to Purchase for Cash Any and All of the Outstanding 8.25% Bonds due 2021 A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks to meet liquidity needs. The shares had then dropped to as low as Rs 94 apiece. Vedanta Resources has standalone debt of $7.Three billion as of the tip of economic 12 months 2020, of which a time period mortgage of $1.9 billion is due by September 2022. On November 20, 2003, the Company re–registered as a public limited company under the United Kingdom Companies Act 1985 and changed its name to Vedanta Resources plc. The order came after Indian police killed 13 protesters angry at alleged environmental damage. The balance sheet and uncertainty among minority shareholders around dividend may put downward pressure on the company, Citi said in its second-quarter earnings review.. Moody’s Investors Service in a note said Vedanta Resources’ failed takeover of Vedanta … The notes in both cases will be partly secured by shares in Mumbai-listed unit Vedanta Ltd. Vedanta Resources Limited Dec 18, 2020, 09:58 ET. Securities may not be offered or sold in the United States or to, or for the account or benefit of U.S. persons absent registration pursuant to the Securities Act, or an exemption from registration. The Company has no intent to register any such securities in the United States or any other jurisdiction. from 8 AM - 9 PM ET, HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. The Tender Offer does not constitute, and may not be used in connection with, an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not permitted by law or in which the person making such offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make such offer or solicitation. I am excited to join Vedanta as CEO for aluminium and power...", Kapur said. All news about VEDANTA RESOURCES: 2018: Vedanta says will invest $700-$800 million in South Africa smelter: RE Neither this announcement nor the Tender Offer Memorandum is an offer document or a prospectus or a private placement offer letter or an offering circular under the Companies Act. Expiration of the Early Tender Deadline and Early Acceptance of Tendered Notes. Vedanta Resources Ltd (VRL) last week announced a delisting offer at a Rs 87.5 per share against a much higher book value resulting in severe criticism from analysts. Vedanta Resources’s latest bond received more than $1.9 billion of . Company profile page for Vedanta Resources Ltd including stock price, company news, press releases, executives, board members, and contact information Electronic copies of all documents related to the Tender Offer are available online via the Tender Offer Website at https://bonds.morrowsodali.com/vedanta until the consummation or termination of the Tender Offer. This announcement and the information contained in this announcement regarding the New Notes do not constitute an offer to sell or a solicitation of an offer to buy any New Notes. Mining giant Vedanta Resources Ltd. kicked off an offering of dollar bonds with one of the highest yields in Asia this year, as pressures at the company mount. New Delhi, Dec 24 (PTI) London-based Vedanta Resources Ltd (VRL) has raised its stake in its India listed unit, Vedanta to 55.11 per cent by buying from open market shares worth Rs 2,959 crore. Subject to the satisfaction or waiver of the other conditions in respect of the Tender Offer, the Company hereby announces that it has today elected to accept for purchase all of the Notes validly tendered and not validly withdrawn on or prior to the Early Tender Deadline (the "Early Acceptance Date") and will pay the Early Tender Offer Consideration for the Notes validly tendered and accepted for purchase at the Early Acceptance Date on the Early Payment Date (as defined herein). Reuters Under-fire mining conglomerate Vedanta Resources has been valued at £2.3bn in a deal "agreed in principle" that would give chairman Anil Agarwal’s family trust Volcan Investments … Also read: Anil Agarwal Plans To Buy Rs 16,200-Crore Vedanta Stake To Take It Private The Company will arrange for cancelation of all Notes validly tendered and not validly withdrawn on or prior to the Early Tender Deadline and accepted for purchase following purchase by the Company, and any Notes not validly tendered or accepted for purchase by the Company will remain outstanding and accrue interest in accordance with their terms. Latest news and coverage 22 Mar 2019 KCM gets a new CEO www.lusakatimes.com 17 Mar 2019 Statement regarding protest at Lanjigarh plant 06 Mar 2... News transforming elements – the story of Vedanta Resources Agarwal-controlled Vedanta Resources will offer Rs 87.5 per share to nearly 49 percent public shareholders of Vedanta Ltd., the company had said. The Information Agent for the Tender Offer is: Morrow Sodali LtdEmail: [email protected]Tender Offer Website: https://bonds.morrowsodali.com/vedanta, Unit 1106, Level 11Two ChinaChem Central26 Des Voeux Road Central, 470 West Ave., Suite 3000Stamford, CT 06902. A smelter closed for allegedly damaging the environment can reopen, the Supreme Court rules. Our products are sold worldwide; we are headquartered in London, United Kingdom. Moody’s Investors Service in a note said Vedanta Resources’ failed takeover of Vedanta heightens refinancing risk and is credit negative. Neither this announcement nor the Tender Offer Memorandum constitutes an offer to sell, offer to purchase, or a solicitation to sell or a solicitation to purchase or subscribe for securities (whether to the public or by way of private placement) within the meaning of the Indian Companies Act, 2013, (including any rules made thereunder), as amended from time to time, (the "Companies Act"), the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008, as amended from time to time, or other applicable laws, regulations and guidelines of India. NONE OF THE COMPANY, THE INFORMATION AND TENDER AGENT, THE TRUSTEE OR THE DEALER MANAGERS MAKES ANY RECOMMENDATION AS TO WHETHER OR NOT HOLDERS SHOULD TENDER THEIR NOTES. Any such Notes validly tendered and accepted for exchange after the Early Tender Deadline will be eligible to receive the Tender Offer Consideration (as defined in the Tender Offer Memorandum) principal amount and will not be eligible to receive the Early Tender Offer Consideration. The Company was incorporated and registered in the United Kingdom as a private company limited by shares under the name Angelchange Limited on April 22, 2003 with the registration number 04740415. Holders are advised to read carefully the Tender Offer Memorandum, available on the Tender Offer Website, for full details of and information on the procedures for participating in the Tender Offer. Vedanta Resources Ltd (VRL) last week announced a delisting offer at a Rs 87.5 per share against a much higher book value resulting in severe criticism from analysts. VRL bought 18.5 crore shares at a price of Rs 159.94 per share. Read about our approach to external linking. Vedanta Limited is a globally diversified natural resources company with interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, oil and gas. The Expiration Time of the Tender Offer will be 11:59 P.M., New York City time, on January 4, 2021, unless extended or earlier terminated (the "Expiration Time"). Vedanta’s 52-week high was Rs 179.95, where as its value of stake in Hindustan Zinc itself comes to about Rs 131 per share. Holders were required to validly tender and not validly withdraw their Notes prior to or at the Early Tender Deadline to be eligible to receive the Early Tender Offer Consideration (as defined below) for the Tender Offer. Moody's downgrades Vedanta Resources' rating New Delhi: Moody's Investors Service has downgraded the corporate family rating of Vedanta Resources Limited to B2 from B1 citing persistent weak liquidity and high refinancing needs. PTI Feeds | November 12, 2018 7:12 PM IST. As previously contemplated by the terms of the Tender Offer Memorandum, in addition to payment of the Tender Offer Consideration, the Company will also pay accrued and unpaid interest on each of the Notes that are validly tendered at or prior to the Expiration Time but after the Early Tender Deadline that are accepted for purchase pursuant to the Tender Offer up to, but excluding, the Final Payment Date (as defined below) in respect of such Notes. A successful takeover of Vedanta would have enhanced the access to Vedanta’s cash flow, improving bond yields and refinancing options, it said. Vedanta Resources Limited (formerly known as Vedanta Resources plc) (the "Company") hereby announces the results as of the Early Tender Deadline (as defined below) with respect to its previously announced offer to purchase for cash (the "Tender Offer") from each registered holder (each, a "Holder" and, collectively, the "Holders"), on the terms and subject to the conditions set forth in the tender offer memorandum dated December 4, 2020, as supplemented by the supplemental tender offer memorandum dated December 18, 2020,  prepared in connection with the Tender Offer (together, as it may be amended or supplemented from time to time, the "Tender Offer Memorandum"), any and all of its outstanding 8.25% Bonds due June 7, 2021 (the "Notes"), as well as the Company's decision to increase the Tender Offer Consideration (as defined in the Tender Offer Memorandum). Villagers brought the case for compensation over alleged pollution by the mining giant. 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