VRF paid USD 869 million to bondholders holding 13.875 percent bonds in 2027 and 2028 respectively.
According to the company’s various Singapore Exchange filings, the payments were made in several stages during October.
For the 13.875 percent bond due in 2027, the company paid USD 470 million, according to filings on October 4 and October 9.
According to VRF’s exchange filing, the 2027 bonds have been fully redeemed and are no longer outstanding, with payment due on October 4.
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Similarly, the company paid USD 399 million to its 13.875 percent bond holders due 2028.
According to the September 11 filing, redemption of bonds due in 2027 and 2028 and refinancing them with new bonds due in 2029 would save VRF three percent interest annually.
Recent moves to deleverage the balance sheets of London-based Vedanta Resources Ltd and its Indian subsidiary Vedanta Ltd have led to a surge in bonds issued by group entities.
According to Vedanta’s latest investor presentation, VRL’s standalone debt stood at USD 9.7 billion in March 2022, down from USD 5.2 billion in September 2024 to around USD 4.5 billion.
The Vedanta Group is a globally diversified natural resources group engaged in the exploration, extraction and processing of minerals and oil and gas.
It has operations in India, Namibia, Ireland, South Africa, Liberia, UAE, Zambia, Japan, South Korea and Taiwan and is mainly engaged in aluminum, zinc-lead-silver, oil and gas, copper, iron ore businesses. , steel and commercial power generation.
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