Vedanta Resources repaid $869 million in 2027, 2028 bonds early, reducing debt and saving annual interest costs.
Vedanta Resources Ltd has repaid $869 million in bonds set to mature in 2027 and 2028, three to four years early. This initiative, part of a broader liquidity management strategy by its subsidiary, Vedanta Resources Finance II PLC, is aimed at reducing high-interest liabilities, saving about 3% annually on interest costs. The move has bolstered investor confidence, contributing to a rally in the company's bonds and significantly reducing its standalone debt.
October 09, 2024
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