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Vedanta repays $900 million loan
Mint New Delhi
|March 13, 2025
Mining conglomerate Vedanta Ltd repaid a $900 million high-cost loan through a mix of qualified institutional placement (QIP) proceeds and a new $350 million facility at a lower interest rate, resulting in $550 million net deleveraging and further strengthening of its balance sheet, people said.
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The loan, taken by subsidiary THL Zinc Ventures in May 2023 at 13.9% interest, was partly repaid using funds from Vedanta's $1 billion June 2024 QIP
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