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Vedanta plans a $750 million bond sale to refinance debt, aided by credit upgrades and lower borrowing costs, despite ongoing demerger delays and acquisition scrutiny.
Vedanta Resources, an Indian mining firm, plans a $750 million seven-year dollar bond sale to refinance high-interest private debt, marking its second such issuance in 2025.
Proceeds will repay existing debt and support general corporate needs, with investor interest boosted by recent credit upgrades and falling borrowing costs for high-yield Asian issuers.
The bonds, rated B2 by Moody’s and B+ by Fitch, include a call option after two years and are backed by the parent company and subsidiaries.
Despite strong market performance of its existing notes and declining net debt to $4.9 billion, Vedanta faces hurdles including delays in a major unit demerger and scrutiny over its acquisition of insolvent developer Jaiprakash Associates.
Vedanta planea una venta de bonos de $ 750 millones para refinanciar la deuda, ayudada por mejoras de crédito y menores costos de préstamos, a pesar de los retrasos en la división y el escrutinio de adquisiciones.