EM-focused Vedanta Resources drives gross debt down to $6.8 billion

Chicago, April 24 – Vedanta Resources Ltd. announced a $1 billion gross debt reduction in a press release.

The company repaid all of its maturing loans and bonds due in April and thereby reduced its gross debt a further $1 billion.

The company is now tracking $3 billion less debt since it announced its intention in February 2022 of deleveraging and reducing debt by $4 billion within three years.

The company’s gross debt is now $6.8 billion, down from $7.8 billion at the end of March and from $9.7 billion at the end of March 2022.

Robust commodity prices are expected to help the company deleverage.

Vedanta is a London-based diversified global natural resources company with operations in India, Zambia, Namibia and South Africa.

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