Debt

Debt financing

Vedanta Resources raises $600-M loan from international banks

Economic Times   Vedanta Resources  

UK-based Vedanta Resources (parent of mining and minerals-focused Vedanta) has secured a USD 600 million loan. Of this, the first tranche of USD 380 million has been secured from First Abu Dhabi Bank, Mashreq, Sumitomo Mitsui Banking Corp and Standard Chartered. The remaining USD 220 million will come from the other participating banks.The proceeds will be used for refinancing to reduce interest costs and extend debt maturity.

Between Dec-20 and Mar-25, Vedanta Resources had raised about USD 1.7 B in debt funding from Oaktree Capital, Mashreq Bank, First Abu Dhabi Bank, Qatar National Bank QPSC and Taiwan's CTBC Bank.