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 Receives 83% Creditors’ Approval for Demerger
February 19, 2025
Vedanta Ltd. received 83% creditor approval for its proposed demerger, surpassing the required 75% threshold. This clears a key hurdle for the company’s restructuring plan, which involves splitting its operations into five independent entities: Vedanta Aluminium, Vedanta Oil and Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, and Vedanta Ltd. Shareholders will receive one share in each new entity for every Vedanta share they hold. The restructuring, approved by the board in September 2023, aims to streamline operations and enhance shareholder value by allowing each business to focus on its core sector. The company had already secured No Objection Certificates (NOCs) from BSE and NSE. The London-based parent, Vedanta Resources, has already reduced its debt by $4bn in the last two years and plans to cut another $3bn in the next three years. The company was recently upgraded to B+ by both S&P and Fitch.
Vedanta’s recently issued $9.85% 2033s traded stable at 102.6, yielding 9.16%.
For more details, click here
Go back to Latest bond Market News
Related Posts:
Vedanta Ltd to Pay $392mn in Interim Dividends
December 17, 2024
Vedanta Ltd. Promoters Raise $800mn via Share Pledges
November 29, 2021
Vedanta Reverses Spin Off Plans
February 9, 2022
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.