Vedanta Resources, the Anil Agarwal led firm, has repaid $400 million of loans, thereby lowering its gross debt to $6.4 billion.
The company said in a statement that it has paid all its maturing loans and bonds due in May and June 2023. According to the company, this has resulted in its gross debt declining to $6.4 billion. It added that in all, the debt has come down by $3.3 billion since the announcement of its deleveraging ambition in March 2022.
CreditSights, a Fitch Group firm, had recently stated that it saw lower refinancing risk for Vedanta Resources’ (VRL) near-term debt maturities on a new $850 million loan refinancing.
