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Bond Market News
Vedanta In Talks to Raise $350mn from Foreign Banks
February 24, 2026
Vedanta Resources is in talks to raise $350mn from UAE banks and additional lenders for partially repaying some group-level borrowings, making interest payments and for general corporate purposes. The company has tied up funding of $110mn from First Abu Dhabi Bank and Mashreqbank. Other additional lenders can join the lender pool subsequently for the remaining $240mn, the company noted. Guarantors to the transaction include its subsidiaries Twin Star Holdings, Welter Trading, Vedanta Holdings Mauritius, Vedanta Holdings Mauritius II, and Vedanta Netherlands Investments. To raise the above funds, the company created a negative lien on the shares of its Indian subsidiary Vedanta Ltd. held by the promoter entities. The agreement also requires Vedanta Resources and its subsidiaries to maintain a minimum ownership of 50.1% of Vedanta Ltd. Vedanta Resources and other promoter entities currently hold a 56.38% stake.
Vedanta’s dollar bonds were trading steady, with its 9.125% 2032s at 104, yielding 8.3%
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