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.
S&P Global highlighted concerns regarding the significant upcoming debt maturities, estimated at approximately $4.5 billion by March 2025, coupled with restricted access to both internal cash flow and external financing.
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.
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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.