Vedanta considers the 1st dollar bond sale of $500 million
ECONOMY & POLICY

Vedanta considers the 1st dollar bond sale of $500 million

According to two people familiar with the plan, the Indian mining business headed by billionaire Anil Agarwal is thinking of launching its first foreign offering of bonds worth at least $500 million. According to people speaking about private matters, Vedanta Ltd. is debating the strategy with financiers and getting legal advice over the possible sale. One of the people said that the bond offering may reach $1 billion, depending on investor reaction. According to the persons, the corporation is also looking into alternative funding options, including equity sales and local currency loans from domestic banks. The announcement coincides with the fact that, according to Bloomberg statistics, four high-yield dollar bonds offered by Vedanta Resources Ltd., the parent company of Vedanta, are now the best-performing Indian securities this year. The holding business successfully restructured its offshore bonds earlier this year. In the past, Vedanta Ltd. has borrowed money in rupees from local lenders and sold bonds denominated in local currency. The company's board of directors authorised the sale of local, non-convertible debentures for $120 million last week. Aluminium, oil and gas, iron, copper, and semiconductors are among the commodities in which Vedanta has interests. Although it operates mostly in India, it also has activities in Namibia, South Africa, and Liberia. During a conference call with investors on April 25, Executive Director Arun Misra stated that Vedanta is expecting $1.9 billion in capital expenditures in 2024?2025. The money for the expansion would come from the issue of dollar bonds. Agarwal is seeking to split the firm into six distinct business groups as part of a reorganisation that was revealed last year. Vedanta Ltd. would be in charge of the semiconductor, zinc, and stainless steel businesses. According to the corporation, the separation will be finished in the March 2025 fiscal year.

According to two people familiar with the plan, the Indian mining business headed by billionaire Anil Agarwal is thinking of launching its first foreign offering of bonds worth at least $500 million. According to people speaking about private matters, Vedanta Ltd. is debating the strategy with financiers and getting legal advice over the possible sale. One of the people said that the bond offering may reach $1 billion, depending on investor reaction. According to the persons, the corporation is also looking into alternative funding options, including equity sales and local currency loans from domestic banks. The announcement coincides with the fact that, according to Bloomberg statistics, four high-yield dollar bonds offered by Vedanta Resources Ltd., the parent company of Vedanta, are now the best-performing Indian securities this year. The holding business successfully restructured its offshore bonds earlier this year. In the past, Vedanta Ltd. has borrowed money in rupees from local lenders and sold bonds denominated in local currency. The company's board of directors authorised the sale of local, non-convertible debentures for $120 million last week. Aluminium, oil and gas, iron, copper, and semiconductors are among the commodities in which Vedanta has interests. Although it operates mostly in India, it also has activities in Namibia, South Africa, and Liberia. During a conference call with investors on April 25, Executive Director Arun Misra stated that Vedanta is expecting $1.9 billion in capital expenditures in 2024?2025. The money for the expansion would come from the issue of dollar bonds. Agarwal is seeking to split the firm into six distinct business groups as part of a reorganisation that was revealed last year. Vedanta Ltd. would be in charge of the semiconductor, zinc, and stainless steel businesses. According to the corporation, the separation will be finished in the March 2025 fiscal year.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code