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Vedanta Resources under pressure, sounds out bondholders on debt extension

This comes after the company failed to delist its India unit

Vedanta Resources
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Representational photo: Bloomberg

Bijou George and Luca Casiraghi | Bloomberg
Vedanta Resources Ltd. has begun sounding out debt holders about the possibility of extending maturities on some of its dollar bonds to reduce refinancing pressures.
 
The mining giant started approaching the investors to discuss possible debt extensions after the company’s failed attempt to delist its India unit, Vedanta Ltd., people familiar with the matter said.

The company’s $670 million of bonds due June next year, which are among notes under discussion with holders, slumped as much as 7.7 cents after the news. That left them set for the sharpest daily drop in more than six weeks, according to prices compiled

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First Published: Nov 26 2020 | 1:43 PM IST

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