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Bond Market News
Vedanta Said to Face Funding Shortfalls in Upcoming Years, Says CreditSights
April 9, 2024
Vedanta Resources is expected to face funding shortfalls of $850mn in FY2025 and $1.4bn in FY2026, as per CreditSights. The research company noted that the shortfall in 2025 is manageable and that Vedanta could tap sources like dividends and brand fees from its Indian subsidiary and operating companies, besides asset and equity stake sales, or loans. Also, they noted that the recently concluded bond restructuring has eased near-term refinancing risk.
Vedanta’s dollar bonds have been trending lower over the past week, down by over 2.5 points across the curve. Its 9.25% 2026s have fallen from 81.8 to 78.5 since the beginning of the month, currently yielding 23.1%.
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