Vedanta Resources repaid three loan facilities worth $800mn loan to Standard Chartered that was taken by pledging its shares. The conglomerate’s loan facilities were taken from StanChart London and Hong Kong. With the company being watched out for keenly by investors and traders due to repayment fears, the loan repayment is said to help assuage such concerns. Vedanta has paid all loans and bonds due last month, and now has an upcoming $500mn redemption on its 7.125% bond due May 31.
Its 7.125% 2023s are trading at 98 cents on the dollar.
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