Vedanta Resources is said to be in talks with global banks like Deutsche Bank, JPMorgan and others for a $500-600mn loan to meet its debt repayments in May, as per sources. The sources noted that Vedanta plans to borrow the amount via its Zinc International unit. Besides, the company is also said to have resumed talks with banks to explore alternative financing options following delays in securing funds from Farallon Capital. Early last month, Vedanta was said to be in talks with Farallon Capital to raise $1bn, but talks have been slow, they noted.
Vedanta’s dollar bonds were lower by over 1 point across the curve. Its 7.125% bonds due 31 May were down 1.4 points to 96.63
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