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Billionaire Mukesh Ambani’s Reliance Industries Ltd. and state-run Oil & Natural Gas Corp. are unlikely to suffer a “material” dent to their credit quality… ....
By Bijou George A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks to meet liquidity needs. The notes will be partly secured by shares in Mumbai-listed unit Vedanta Ltd., according to separate exchange filings from Vedanta and the U.S. hedge fund. India’s macroeconomic troubles have attracted a wave of global investors betting they can eke out profits from the rising number of capital-starved businesses struggling to stay afloat. Some global heavyweights including Oaktree and Apollo Global Management Inc. have either struck recent India deals or scaled up their teams in the country in a push to invest in distressed assets. ....