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Bond Market News
Vedanta Proposes to Repay $920mn Debt in FY26
May 6, 2025
Vedanta Resources Ltd. (VRL) plans to repay $920mn in debt in FY2026 and $675mn in FY2027 as part of its ongoing deleveraging strategy, according to a company official. The company is improving its financial position by reducing debt, refinancing bonds, and enhancing cash flow through increased volumes and lower costs. CFO Ajay Goel stated that VRL’s cash needs are declining, and the group is in its strongest historical cash position. Over the past year, Vedanta undertook strategic actions like raising funds through QIP and OFS, securing equity partnerships, and refinancing $3.1bn in bonds, which helped reduce debt by $1.2bn. As of March 31, 2025, VRL’s net debt stands at $4.9bn, with group leverage improving from 2.7x to 2x.
Vedanta’s recently issued 9.85% 2033s traded stable at 91.2, yielding 11.54%.
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