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Vedanta says completed repayments to bond holders

Vedanta Resources Ltd. (VRL) has announced that it had completed repayments to its bondholders on February 7, 2024 in line with the consents it had received earlier in the year in which maturities of $3.2 billion in bonds were extended to 2029.

“VRL is pleased to note that with the completion of this exercise, the debt maturities at VRL are more evenly spread which was our main objective for the exercise,” the company said in a statement.

Vedanta Group had announced a demerger and reorganization plan in September last year. This will recast the Vedanta Group across 17 major businesses.

“Each of the business has world-class management leadership, employ the latest cutting-edge technologies have import substitution and fulfilment of domestic demand as a core proposition. They also offer high quality and diversified investment opportunities to institutional and retail investors alike. We will update progress on the implementation on a timely basis,” the company added.

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