Vedanta parent Vedanta Resources, as a part of the plan, was looking to pledge 13 per cent of its stake in India-listed Vedanta Ltd to secure a $1.25 billion financing package from a cluster of lenders.
As part of the plan, Vedanta Resources is to pledge 13% of its stake in Vedanta Ltd (VDL) to secure a $1.25 billion financing package from a group of lenders led by Standard Chartered Bank and New York-based Cerberus Capital Management to help avert a default on $1 billion of bonds that are due in January, according to people familiar with the matter.
Vedanta secures $1 25B for debt refinancing; S&P downgrades rating yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.
Vedanta secures $1 25 billion for debt refinancing; S&P downgrades rating financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.