Debt financing
Vedanta Resources raises $300-M from 3 banks
UK-based Vedanta Resources (parent of mining and minerals-focused Vedanta) has secured a USD 300 million loan from Barclays, First Abu Dhabi Bank, and Mashreq for 3 years and 3 months. The company is looking to upsize the deal and is in talks with other banks for an additional USD 200 million.The raised proceeds will be used to refinance some outstanding 2024 and 2026 bonds and for meeting other debt servicing obligations.
Between Dec 2020 and Dec 2023, Vedanta Resources had raised about USD 1.05 B in debt funding from Oaktree Capital, Mashreq Bank, First Abu Dhabi Bank, Qatar National Bank QPSC and Taiwans CTBC Bank.
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