Anil Agarwal’s Vedanta Resources Ltd has successfully wrapped up a comprehensive debt restructuring initiative, underlining its commitment to long-term sustainability and resilience. The company disclosed today that it has executed an upfront payment of USD 779 million to its bondholders, culminating in the repayment process as part of the restructuring endeavor.
The milestone achievement, announced on February 7, 2024, follows Vedanta’s proactive efforts to garner consent from bondholders earlier this year to restructure four series of bonds, collectively amounting to USD 3.2 billion. Notably, these maturities have now been extended to 2029, a strategic move aimed at alleviating the company’s debt obligations and reinforcing its financial foundation.
In addition to the upfront payment, Vedanta also disbursed a consent fee of USD 68 million to bondholders who participated in the restructuring agreement, further solidifying its commitment to stakeholders’ interests. This financial restructuring comes against the backdrop of Vedanta Group’s ambitious demerger and reorganization plan unveiled in September last year. The plan, spanning across 17 major businesses, reflects Vedanta’s proactive approach to adapt to changing market dynamics and position itself as a leader across various sectors.
