The mining and metals conglomerate has $1 billion of 13.875% bonds coming up for repayment in January, another $1 billion of 6.125% paper due in August 2024, and $1.2 billion of 8.95% bonds maturing in March 2025.
Vedanta shares would be in focus as the board of directors of the company will consider a proposal for issuance of non-convertible debentures (NCDs) on a private placement basis.
Vedanta has two separate term loans of Rs 300 crore and Rs 1000 crore due on November 14, 2023, and on March 31, 2024, respectively. The fresh issues of bonds likely meet the capex requirements or repay these terms loans
Vedanta Resources has $1 billion 13.875% bonds due in January 2024, $1bn 6.125% bonds due in August 2024 and $1.2bn 8.95% bonds due in March 2025. At a bondholders meeting organized by Standard Chartered Bank and JP Morgan between September 11 and 15 at Singapore and Hongkong, it proposed extending the tenure of the bonds by three years, as reported by ET on September 12.