This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Vedanta is expected to complete a planned $1.25bn private loan deal in December, according to sources. They added that signs of progress were being seen as lenders are said to have hired law firms Linklaters and Khaitan & Co. while Vedanta has hired Ashurst. Proceeds will be used to back the planned restructuring of its dollar bonds due next year for which Vedanta is also working on their refinancing. Earlier this month, it was reported that the company was said to be in advanced stages of securing the above loan at an interest rate of 18-20%. Lenders involved in negotiations include Cerberus Capital, Davidson Kempner Capital, Varde Partners and Ares SSG Capital.
Vedanta’s dollar bonds were trading stable – its 6.125% 2024s were at 63.76 cents on the dollar.