Anil Agarwal’s Vedanta Resources Ltd has achieved a significant milestone in its financial strategy with the successful completion of its debt restructuring initiative. The company announced on February 7, 2024, that it has concluded repayments to bondholders following an upfront payment of USD 779 million, marking a pivotal moment in its journey towards financial resilience.
The restructuring effort, which garnered consent from bondholders earlier this year, involved extending maturities of USD 3.2 billion in bonds to 2029, thereby alleviating the company’s debt burden and providing a more sustainable financial framework.
In addition to the upfront payment, Vedanta disbursed a consent fee of USD 68 million to bondholders who participated in the restructuring agreement, further solidifying its commitment to stakeholders’ interests and fostering goodwill in the financial community. This strategic maneuver comes amidst Vedanta’s broader demerger and reorganization plan, announced in September last year, aimed at reshaping the conglomerate across 17 major businesses.
