Vedanta plans first dollar bond sale since January restructuring
3 months, 3 weeks ago

Vedanta plans first dollar bond sale since January restructuring

Hindustan Times  

A unit of Vedanta Resources Ltd.’s is planning to sell its first dollar bond since the group restructured some of its US currency notes earlier this year, signaling improved prospects for the debt-laden miner. Since the restructuring, its Indian units sold stakes and upstreamed dividends that will aid Vedanta Resources repay $3 billion of debt over the next three years. While an increase in Indian unit Vedanta Ltd.’s profit can boost liquidity at the parent helping it trim debt, rising metal prices are also aiding its turnaround. The group is also splitting Indian unit Vedanta Ltd. into six listed companies giving investors direct exposure to a business of their choice and in turn improve the value of the group’s component parts.

History of this topic

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