Key Points
The dollar bonds of Vedanta Resources slipped, with one dropping the most in more than three weeks, on news Indian billionaire Anil Agarwal is planning to overhaul his sprawling conglomerate to tackle its debts...
The August 2024 bond posted the biggest drop, down 0.6 cents on the dollar to 62.6 cents at 1:45 p.m. in Hong Kong, its biggest decline in more than three weeks..
Of the four bonds, three were trading below the 80 cents-on-the-dollar mark typically considered distressed...
With roughly $3 billion of US-currency bonds coming due over the next two years, the mining company needs to come up with cash..
The proposal is part of a debt-restructuring plan that also affects other dollar bonds due in the next two years...
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Record $2-bn bill due in 2024 shows risks ahead: Vedanta Resources trims gross debt to $6.4 billion
31, May, 23Pays all its maturing loans and bonds due in May and June
Vedanta Resources outlines terms for bond restructuring
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Anil Agarwal’s debt-cut blitz turns heat on Vedanta units
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Anil Agarwal’s Vedanta raises about $850 million via JPMorgan, Oaktree loan
24, May, 23The Vedanta Group, led by billionaire Anil Agarwal, has secured an $850m loan from JPMorgan Chase and Oaktree as it tries to find funds to pay back a $500m bond. The debt of the Indian mining operation, which suffered a setback after zinc mining unit sale to Hindustan Zinc was blocked, is causing investors concern, with the news agency Bloomberg reporting that Vedanta Resources bonds due to be repaid this year and in 2026 are trading below 70 cents to the dollar.
Vedanta's $894 million bond interest payment cleared with 7 days' delay
26, Feb, 24Vedanta Group's $894 million bond interest payment was delayed by seven days due to a discrepancy. The payment was made following an investigation and clarification. The group struck a deal with creditors to extend repayment deadlines for three dollar bonds, reducing net debt by up to $2 billion to generate free cash flow.
Vedanta faces investor reckoning over $3.2 billion of bonds
02, Jan, 24India Business News: Vedanta Resources seeks approval for a proposal to revise the terms of its dollar bonds to cut its debt load. The miner is offering to pay $779 millio