The Bank of New York Mellon has been appointed to provide multiple corporate trust services for Vedanta Resources plc’s USD1.25 billion convertible bond issue. The Bank of New York Mellon will act as note trustee, registrar, paying agent, conversion and transfer agent, and common depositary.
“Equity markets in India seem to have rebounded in the second quarter of 2009 with several commodity, property and infrastructure companies across the region keen for capital and accessing the market to sell either convertible bonds or straight equity – sometimes both,” says Gary Lew, head of Asia Pacific, Corporate Trust at The Bank of New York Mellon.
“This renewed positive sentiment presents strong opportunities for The Bank of New York Mellon in India. As one of the largest capital raising deals in terms of value raised in the domestic market in the past five quarters, our work for Vedanta shows that we have the experience and track record to service groundbreaking transactions like this, which reinforces our standing as the leading corporate trust provider in the world,” adds Lew. “We are very proud to be associated with such a prestigious issue.”
L.D.