Vedanta Resources Raises $800M to Strengthen Capital Structure

Vedanta Resources, based in the UK and parent to India's Vedanta, successfully raised USD 800 million through a new bond issuance to prepay its outstanding debt due in 2028. This fundraising effort reflects strong investor confidence and contributes to Vedanta's ongoing strategy of deleveraging and optimizing its capital structure.

Vedanta Resources, the UK-based parent of India's Vedanta, has successfully secured USD 800 million from global investors via a new bond issue aimed at prepaying its debt due in 2028.

The bond issue, split into two tranches, includes USD 300 million at 10.25 percent due in 2028 and USD 500 million at 11.25 percent due in 2031, with significant interest from asset managers worldwide.

Vedanta has been strategically focusing on reducing its net debt and optimizing financial structures, having raised USD 900 million in September to refinance existing obligations. The company has lowered its net debt by USD 1 billion in the first half of the fiscal year alone, signaling robust investor confidence and solid financial health.

(With inputs from agencies.)