Vedanta Resources repays $869 mn in Oct to redeem bonds due in 2027, 2028

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Vedanta Resources repays $869 mn in Oct to redeem bonds due in 2027, 2028 - Business Standard

Quick Summary:

According to the company's various Singapore exchange filings, the payments were made in multiple phases during October.For the 13.875 per cent bonds due in 2027, the company repaid USD 470 million, as per filings on October 4 and October 9.

Vedanta Resources Ltd has said it paid USD 869 million to bondholders in October to redeem bonds three to four years ahead of maturity.

The repayments are part of a larger liquidity management exercise under which Vedanta Resources Finance II PLC (VRF) -- a wholly-owned subsidiary of Vedanta Resources Ltd -- is repaying bonds with a higher interest rate to save on interest costs.