Vedanta Funding Requirement $4.5 Billion For Cairn India Buy

[LesCrozes]

Vedanta Resources Funding Requirement $4.5 Billion For Cairn India Buy


LONDON -(Dow Jones)- Vedanta Resources PLC (VED.LN), a diversified metals and mining company announced Friday that it has a funding requirement of $4.5 billion for the acquisition of the 30% stake in Cairn India Ltd (CNE.LN).

MAIN FACTS:

-The $4.5 billion available is in the form of fully committed facilities valid up to December 15, 2011 and internal sources such as repayment of intercompany debt from subsidiaries.

-The size of the Bridge to Equity Facility was originally $1.0 billion.

-Vedanta has permanently reduced this by $730 million and it currently stands at $270 million.

-Vedanta continues to work with Cairn Energy towards the completion of the Transaction.

-Shares at 1357 GMT down 25.0 pence, or 1.9%, at 1270.0 pence.

-By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; zechariah.hemans@ dowjones.com

[LesCrozes]

Les articles relatifs aux besoins de financement de Vedanta pour l'acquisition de Cairn India réapparaissent très logiquement dès maintenant.

[phili675]

20 AUG, 2011, 04.12AM IST, PTI
Vedanta cuts bridge loan size to $ 270mn for Cairn stake buy




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LONDON/NEW DELHI: Anil Agarwal-led Vedanta Resources today said it has reduced the size of the bridge loan needed for acquiring stake in Cairn India to $ 270 million from $ 1 billion proposed earlier.

"The size of the bridge to equity facility was originally $ 1 billion. Vedanta has permanently reduced this by $ 730 million and it currently stands at $ 270 million," it said in a filing to the London Stock Exchange.

The company, however, did not elaborate on the reasons for cutting down the loan size.

As of today, Vedanta needs to pay $ 4.5 billion for acquiring 30 per cent stake in Cairn India, the statement said.

Edinburgh-based Cairn Energy Plc is selling stake in its Indian unit to London-listed mining group Vedanta Resources. In all, Cairn Energy will get $ 6.02 billion from selling 40 per cent stake in Cairn India to Vedanta. Post the open offer, total deal size is expected to be around $ 9 billion.

Vedanta had already received conditional approval from the Government of India for buying majority stake in Cairn India. The shareholders of the oil firm are required to vote on the transaction by September 10.

"Vedanta continues to work with Cairn Energy towards the completion of the transaction," the statement said.

[Le Niçois]

"La taille du pont d'installation d'équité a été initialement 1 milliard $. Vedanta a réduit de façon permanente ce 730 millions de dollars et il se situe actuellement à 270 millions de dollars", il a déclaré dans un dépôt à la Bourse de Londres.

La société n'a toutefois pas précisé les raisons de couper le montant du prêt.


Et si l'on reparlait de l'IPO de KCM à Londres, mais d'une mise au public plus importante qu"initialement,?...

[bingogo]

et le financement de KR va se rajouter à ce chiffre sauf si bien entendu le financement est réalisé en partie grâce à l'IPO

la difficulté sera de trouver une fenêtre ds les mouvements de marchés qui malheureusement devraient continuer dès ce lundi...

[Le Niçois]

ce que je pense se situe dans ta dernière phrase Bingogo.
"Ils" ont, auront bien besoin de cette IPO, afin de ne pas trop alourdir leur endettement, face aux ttes puissantes agences de notation.

Le problème avec le climat pourri de la Bourse est que l'éclaircie doit être tenace car les investisseurs vont y regarder à 2 fois avant de s'engager.
Une alternative : mettre plus de % de Kcm dans l'IPO;
inconvénient : ça diluerait la valeur non? donc pas recochet notre action?
Vos avis sollicités.