- Vedanta Resources issues a second dollar bond in two months, split into 3.5 and 7-year tranches with yields of 10.375% and 11.375%.
- The company targets net debt reduction to $4.5 billion by FY25-end, already cutting $4.7 billion over the past 2.5 years.
- Recent refinancing efforts lowered costs by 3%, saving ₹300 crore annually.
Vedanta Resources has launched another dollar bond offering shortly after US allegations against Adani Group’s founder. The bonds are split into two tranches with maturities of 3.5 and 7 years, and initial yields of 10.375% and 11.375%. This marks Vedanta’s effort to tap into offshore markets despite challenges in Indian corporate debt.
The company has been aggressively reducing its debt, cutting $4.7 billion over the last 2.5 years. As of FY25, Vedanta targets a net debt level of $4.5 billion. Recent refinancing efforts saved the company ₹300 crore annually, with overall borrowing costs reduced by 3%.
