Vedanta Announces Announces Tender Offer for Dollar Bond; Plans $3bn Debt Raise; Declares $1.5bn Dividend
Vedanta Resources announced a tender offer for its $1bn 6.375% bond due July 2022. The bond’s price jumped over 1.5 cents on the dollar to 99.96. The offer is capped at $500mn. Investors who tender their bonds by the early deadline of May 11 will receive par...
Pemex Reverses Losses with $6bn Q1 Profit
Pemex reported a net profit of $6.2bn in Q1 2022, reversing nearly $2bn in losses during the year-ago period. This was its highest profit in 18 years with the state-owned company benefiting from rallying oil prices, stabilizing crude output and foreign exchange gains....
Tata Steel Reports 37% Jump in Quarterly Profits
Indian global company Tata Steel reported a 37% YoY increase in consolidated net profits to INR 98.35bn ($1.3bn) during its quarter ending March 2022. Total revenue from operations rose to INR 693.24bn ($9.1bn), up 39% YoY, driven by higher prices in Europe and higher...
DIAL Upgraded to B by S&P on Passenger Traffic Recovery
Standard Chartered (StanChart) reported a 7% YoY rise in Q1 2022 net profits to $1.18bn. Net interest income was up 8% to $1.79bn and non-interest income was up 10% to $2.48bn. The bank reported a $200mn credit impairment charge as compared to a $20mn charge during...
