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Vedanta has sought to identify the bondholders noting that the purpose was “for a better understanding of our holders”. The mining conglomerate has engaged Morrow Sodali for the above ahead of its $2bn in bond maturities due next year, as per Bloomberg. Vedanta’s Chairman Anil Agarwal has sounded confident of not defaulting and referred to the company’s track record of fulfilling all its commitments. Bloomberg Intelligence analysts Mary Ellen Olson and Sheenu Gupta said that the appointment of a financial adviser could increase concerns that it may turn to some form of bond restructuring. S&P recently cited increased refinancing risks for the company, leading to a negative outlook.
Vedanta’s 13.875% 2024s fell 0.6 points to 88 cents on the dollar.
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