Mon 01/16/2023 04:37 AM
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Relevant Documents:
$1B 13.875% Bonds Due January 2024 (Jan. 24 Bonds, VRF II Issued)
$1B 6.125% Bonds Due August 2024 (Aug. 24 Bonds, VRL Issued)
Reorg Asia’s Highlights:
  • Vedanta Resources Ltd. (VRL) utilizes a dual issuance structure for its USD bonds;
  • Structural subordination between the two bond issuers exists;
  • The USD bonds have different credit enhancement packages, even between the USD bonds issued by the same issuer;
  • In addition to USD bond issues, other entities...
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