Posted AT 7:06 AM EST on 24/06/08
Resource firms rush to sell bonds
HONG KONG — Mining groups Rio Tinto and Vedanta Resources are set to sell as much as $5-billion (U.S.) in dollar bonds, part of an expected rush of resources firms seeking to raise funds in debt markets.
Companies in the sector are seeking to refinance existing debt, a chunk of it which is tied to acquisitions, and raise capital, as a boom in commodity prices sparks consolidation and lifts profits in the sector, analysts said.
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