Private Equity

PE Fund Investments

Vedanta secures Rs.3,400-Cr debt from Oaktree Capital

Economic Times  

Oaktree Capital has provided INR 3,400 crore debt facilities to listed company Vedanta Ltd for a term of 18 months at 12% interest. Vedanta has raised funds around the time its holding company is working to arrange funds to refinance its upcoming USD 1 Billion bonds, which are due January 2024. Three different funds of Oaktree Capital provided debt to Vedanta by subscribing to the secured, unlisted non-convertible debentures (NCDs) via 3 of its units. OCM India Opportunities XII Alternate investment Fund has provided INR 2,487 crore, OCM India Opportunities XB Alternate investment Fund INR 293 crore, and OCM India Opportunities XI Alternate investment Fund INR 619 crore. Vedanta has pledged 100% of shares of Sesa Iron and Steel Ltd as security for the debt. Vedanta, a metals-to-mining conglomerate, has proposed splitting its business into five units - aluminium, oil & gas, base metals, steel and ferrous and power generation.