Vedanta Resources completes repayments to bondholders

Srinagar, Feb 11: Metals and mining giant Vedanta Resources Ltd said it has made an upfront payment of USD 779 million to its bondholders and completed repayments as part of the debt restructuring exercise.

The upfront payment to the bondholders was made on Wednesday, Vedanta Resources Ltd (VRL) said in a statement.

VRL completed repayments to its bondholders on February 7 in line with the consents it received earlier in the year in which maturities of USD 3.2 billion in bonds were successfully extended to 2029, the statement said.

Vedanta Resources has successfully made an upfront payment of USD 779 million in cash to bondholders to redeem a portion of the bonds and extend their maturities. It has also paid a consent fee of USD 68 million to the bondholders who had agreed to the restructuring, the company had said earlier.