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Vedanta s dollar notes due this month were the most supportive of the firms liability management exercise, while the remaining three trade below the 80 cents on the dollar mark often considered indicative of distress. ​Still, the bond due in August 2024 rose 3.5 cents on the dollar in December to 66.4 cents, according to Bloomberg-compiled data. ....
The management was speaking to bondholders for consent solicitation exercise for restructuring a series of bonds, including those due in January 2024, August 2024, and March 2025. ....
Some bondholders said they wanted more cash up front than what was offered by the company, said some of the people, who asked not to be named because the discussions are confidential. Other investors urged changes to the collateral for some debt and a date for asset sales, people said. ....
All four junk-rated notes were indicated lower on Monday, Bloomberg-compiled data showed. The August 2024 bond posted the biggest drop, down 0.6 cents on the dollar to 62.6 cents at 1:45 p.m. in Hong Kong, its biggest decline in more than three weeks. Of the four bonds, three were trading below the 80 cents-on-the-dollar mark typically considered distressed. ....