India’s Vedanta issuing Rs. 20 billion of nonconvertible debentures

By Wendy Van Sickle

Columbus, Ohio, Aug. 17 – Vedanta Ltd. plans to issue up to Rs. 20 billion of secured, rated, non-cumulative, redeemable, nonconvertible debentures, according to a notice with the Bombay Stock Exchange.

The issuance on private-placement basis is part of the company’s refinancing strategy and falls under its board of directors’ approval on July 11 to issue up to Rs. 80 billion of debentures within a year.

Formerly Sesa Sterlite Ltd., Vedanta is a Panaji, India-based natural resources company focusing on zinc, lead, silver, aluminum, copper, iron ore, oil and gas and commercial power.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.