This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Vedanta Ltd. Said to Be Planning Demerger and Separate Listing of Certain Operations to Help Parent
September 28, 2023
Vedanta Ltd., the Indian subsidiary of Vedanta Resources is said to be planning a deal to demerge some of its businesses including aluminum, oil and gas, iron ore and steel, as per sources. They noted that the company has informed its lenders of the restructuring and may announce the plan in the near future. Given that Vedanta Resources will be the parent holding company, a possible demerger could help them manage their current debt worries. The sources added that details have not been finalized have emerged yet on the structure of timing of the demerger. With constant worries about Vedanta Resources’ ability to pay on its debts and debt restructuring risks, Moody’s recently downgraded the company to Caa2.
Vedanta’s dollar bonds were trading flat with its 13.875% bonds due January 2024 at 90.22.
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.