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With these new bonds, the total amount the company has raised through these instruments has swelled to $2.15 billion. The company had raised $1.75 billion late June through a three-tranche issuance of dollar bonds, as part of its attempt to retire high-cost debt of about $2 billion. Vedanta Resources has secured an additional $400 million from a recent bond issuance. This new funding brings the company's total raised through these instruments to $2.15 billion. The company aims to replace existing debt with these new, lower-cost securities. These bonds will help reduce the company's overall borrowing expenses significantly. The refinancing effort also extends the maturity of Vedanta's outstanding debt. The new bonds maturing in 2032, 2034 and 2037 will be priced at 7%, 7.37% and 7.75% almost in line with the bonds issued in June, people familiar with the details said. "With this new tranche refinancing of the existing bonds is now complete. These bonds help the company reduce costs and also elongate the tenure," said a person familiar with the details. "The bonds these new securities will replace were taken at a higher cost of between 9.20% to 9.50%. They were also maturing sooner in 2030, 2032 and 2033. This refinancing takes care of both cost and tenure." ET could not ascertain the break-up of the $400 million in the different tenures. A Vedanta spokesperson did not reply to an email seeking comment. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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