Vedanta Resources: Funding Gaps, Prospective Plans and THL Zinc Deal
Panelists: Jeff Burton, senior legal analyst (moderator); Malvika Joshi, India editor;Junguang Tan, director; andKen Yao, credit analyst. On Monday, Feb. 27, we held a discussion of Vedanta Resources Ltd., which is among India’s largest high-yield issuers and one of the most volatile Asian credits. We considered its funding gap, prospective financing plans, the potential THL Zinc related-party transaction and the issuance/credit structure of the dollar bonds. As Vedanta Resources approaches the end of its 2023 fiscal year on March 31, it has achieved the halfway point of its $4 billion deleveraging target. However, the company has significant maturities coming due in...
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