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Vedanta’s bond plan faces query on $600 mn loan funds
Mint Mumbai
|September 30, 2025
$250 mn of $500mn loan still not drawn: Vedanta
On Monday, when ratings agency Moody’s disclosed that Vedanta Resources Ltd (VRL) is looking to raise $750 million through unsecured dollar bonds to refinance a $550 million loan, Viceroy Research had a pointed question.
What happened to the proceeds of a $600 million loan the Vedanta Group’s holding company had raised in June? That loan too, after all, was availed to refinance the same $550 million private credit facility, which carries an eye-watering interest rate of 18%, the New York-based short-seller said in a note on Monday. “It appears these funds have been spent on other uses.”
This story is from the September 30, 2025 edition of Mint Mumbai.
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