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Published: September 15, 2024
Updated: September 15, 2024
Vedanta Resources is marketing new, unsecured, dollar bonds to investors, with the proceeds aimed at refinancing its existing $ 470 million Jan 2027 and $1 billion December 2028 bonds ahead of their maturities.
VRL has launched a concurrent tender offer to redeem the two tranches of bonds at par by
September 16, 2024, with a higher priority for the 2027’s redemption.
The group has already received the bankers’ nod to divide the debt of its India-listed Vedanta Ltd into 6 entities, and expects listing within a year and to sell stakes in each entity via block deals to raise funds from the market. The group’s complete turnaround is a great success story of how to manage debt.
December 15, 2024 - First Issue
Industry Review
VOL XVI - 07
December 01-15, 2024
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