Vedanta's Strategic Debt Reduction: A $869 Million Move

Vedanta Resources Ltd has successfully paid USD 869 million to bondholders ahead of schedule, as part of its liquidity management strategy. This move, which involves redeeming high-interest bonds due in 2027 and 2028 and issuing new ones for 2029, is aimed at reducing interest expenses.

In a strategic fiscal manoeuvre, Vedanta Resources Ltd has announced the pre-emptive redemption of bonds worth USD 869 million, settling them three to four years ahead of maturity.

The repayment initiative is a part of comprehensive liquidity management efforts spearheaded by Vedanta Resources Finance II PLC, a subsidiary of Vedanta Resources Ltd, aimed at cutting down on high-interest liabilities.

These financial steps are anticipated to save the company approximately three per cent in annual interest costs and have already boosted investor confidence, as evidenced by the recent rally in Vedanta's bonds.

(With inputs from agencies.)