Vedanta Resources Completes Repayment To Bondholders

Vedanta Resources Ltd. has announced that it has completed the repayments to bondholders on Feb. 7.

This was done in accordance with the consent it received earlier this year, in which maturities of $3.2 billion in bonds were successfully extended to 2029, according to a statement released on Friday.

After the completion of this act, the debt maturities at the company are more evenly spread, the statement said.

Earlier, Vedanta Resources received support from bondholders for its proposal to restructure four series of bonds.

Across the bond series, about 97.7% to 99.6% of the bondholders voted to approve an extraordinary resolution regarding consent solicitation.

The consent received is much higher than the required threshold of 66.67%. These series of bonds include two that were due for maturity in 2024, one in 2025, and one in 2026.