by Amruth Sundarkumar | Mar 29, 2023 | High Yield Bonds, India
Vedanta Resources’ Indian subsidiary Vedanta Ltd. decided to pay out a fifth interim dividend for the concluding financial year. The dividend amounts to INR 76.2bn ($927mn). This would help its parent Vedanta Resources repay its debts due in the near-term...
by Amruth Sundarkumar | Mar 24, 2023 | High Yield Bonds, India
Vedanta Ltd., the Indian subsidiary of Vedanta Resources quashed rumors about its stake sale saying it was “untrue and baseless”. This comes after a report said that the company was pondering about a stake sale in Vedanta Ltd. as a last-resort option with...
by Arundhati Behera | Mar 22, 2023 | High Yield Bonds
Vedanta eased some of its liquidity woes as Hindustan Zinc, ~65% owned by Vedanta, announced another dividend, this time of INR 109.9bn ($1.3bn) on Tuesday. This will help the Anil Agarwal-led company address some of its upcoming debt obligations, most notably: $416mn...
by Arundhati Behera | Mar 13, 2023 | High Yield Bonds, India
Vedanta Resources Ltd. (VRL) was downgraded to Caa1 from B3 and its senior unsecured ratings to Caa2 from Caa1. Moody’s cited “increasing refinancing risk surrounding holding company VRL’s large debt maturities” as the primary reason for the...
by Arundhati Behera | Mar 8, 2023 | High Yield Bonds, India
Vedanta is planning to acquire an additional 6% stake in Hindustan Zinc Ltd (HZL), as and when the government sells its holding, as per Business Standard. Vedanta currently owns 64.9% in HZL and the government holds at 29.6% stake. The government is said to be...
