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 Reverses Spin Off Plans
February 9, 2022
Vedanta Ltd. confirmed that it will not conduct any restructuring or spin-off of its businesses given that its current structure is optimal. It added that it aims to distribute a minimum 30% of its ‘attributable profit after tax, before exceptional items and excluding profits’ of its unit Hindustan Zinc, as dividend to investors within the next six months. In an effort to increase business opportunities and synergies like its potential acquisition of Bharat Petroleum, a specific fund with a strategic investor will be set up without incurring any leverage on Vedanta’s balance sheet. Last week, Bloomberg news reported that a potential merger of Vedanta Resources with its Indian unit Vedanta Ltd. was being planned with preliminary talks underway.
Vedanta’s dollar bonds were marginally higher with its 9.25% 2026s up 0.2 points to 90.25, yielding 11.52%.
For the full story, click here
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.