by Amruth Sundarkumar | Feb 17, 2023 | High Yield Bonds, India
Dollar bonds of Vedanta Resources were higher by 2% across the curve. News media reported that Hindustan Zinc was planning to reach out to the mining ministry to resolve differences over Vedanta Ltd’s acquisition of overseas assets. Objections were raised by...
by Amruth Sundarkumar | Feb 16, 2023 | High Yield Bonds, India
Vedanta Resources’ dollar bonds were higher by up to 1 point as the company announced that it has cut its net debt by $2bn in the current financial year, faster than its initial expectations. It added that it has achieved half of its 3Y planned debt reduction...
by Amruth Sundarkumar | Feb 9, 2023 | High Yield Bonds, India
Vedanta’s dollar bonds were higher by up to 2 points, recouping some of its losses earlier this week. Hindustan Zinc said that the acquisition of Vedanta’s offshore zinc asset was “approved by the Board of Directors”. It added that the proposed transaction...
by Amruth Sundarkumar | Feb 7, 2023 | High Yield Bonds, India
Vedanta’s dollar bonds have fallen by over 4-6%, reversing the rally late last month where Vedanta Ltd was to sell overseas zinc assets for over $3bn to Hindustan Zinc. The drop in bonds occurred after the government’s nominees on the board of Hindustan...
by Amruth Sundarkumar | Feb 1, 2023 | Corporates, High Yield Bonds, India
Vedanta Ltd. has decided to halt plans to sell Sterlite Copper, its copper smelter in Tamil Nadu, India, as per sources. While the initial planned size of the sale was not known, Sterlite has operated a 400,000 MTPA smelter and was responsible for 36% of India’s...
by Amruth Sundarkumar | Jan 27, 2023 | High Yield Bonds, India
Adani Group responded to Hindenburg Research’s note with its dollar bonds recovering by ~5%. Adani Group dismissed the claims as baseless, saying that it was timed to damage its reputation ahead of the planned $2.5bn share issuance of Adani Enterprises. Besides,...
