Page 2 - Vedanta Resources
Vedanta turns to LIC for Rs 5,000 cr as offshore borrowing gets costlier
Fund to be raised via 10-yr bonds; another Rs 2K cr to come via 18-month papers
 "Vedanta turns to LIC for Rs 5,000 cr as offshore borrowing gets costlier")
Vedanta plans to issue $1.5 billion dividend, lifting parent's bonds
The parent firm's dollar bonds rose the most in six weeks Friday, with the notes maturing in July hitting the highest level since October, according to Bloomberg-compiled data
 "Vedanta plans to issue $1.5 billion dividend, lifting parent's bonds")
Refinancing debt more challenging for Vedanta Resources in tight market
While current capital market conditions have reduced Vedanta Resources' funding options, its strong underlying ops remain supportive of the company's ability to meet its immediate debt obligations
 "Refinancing debt more challenging for Vedanta Resources in tight market")
Anil Agarwal weighs merger of holding company with cash-rich India unit
The businessman has held preliminary discussions with prospective advisers about the idea of combining Vedanta Resources Ltd. with Vedanta Ltd.
 "Anil Agarwal weighs merger of holding company with cash-rich India unit")
Vedanta's Anil Agarwal to set up $10 bn fund to scout for govt assets
The idea is to create a fund with a 10-year life span that will use a private equity-type strategy, buying into companies and boosting their profitability before seeking an exit
Vedanta mulls value-unlocking through separate listing of businesses
The board has also appointed various advisors to assist in evaluating the options, said the filing
 "Vedanta mulls value-unlocking through separate listing of businesses")
Vedanta invites partnership from cement companies for by-products
Vedanta on Monday said its aluminium vertical has invited partnerships from cement producers like ACC, UltraTech Cement and JK Cement to use its by-products for manufacturing low-carbon cement.
Arbitral tribunal rules ZCCM breached dispute resolution provisions over Vedanta mines
A Zambian court has stayed hearing by a state-appointed provisional liquidator for splitting up Vedanta Resources' Konkola Copper Mines (KCM) unit and selling the assets. The stay on KCM liquidation proceedings has been granted to allow Vedanta and the Zambian government to proceed to arbitration, Vedanta said in a filing to the Singapore Stock Exchange. Metals and mining firm Vedanta Resources held a 79.4 per cent stake in KCM while the Zambian government through its state mining investment firm ZCCM-IH holds the remaining 20.6 per cent. Vedanta has been locked in a dispute with the Zambian government since May 2019, when the Zambian government handed control of the mine to a liquidator. Legal arguments over the case have been heard in both Zambia and South Africa. "Zambian Court of Appeal has granted a stay in respect of any hearing of the merits of the Winding Up Petition and Amended Petition in respect of Konkola Copper Mines plc pending a decision in respect of the arbitrati
Vedanta up 5% as Tamil Nadu govt allows Sterlite plant to produce oxygen
The order, however, added that Vedanta cannot involve the plant in copper production or any other activities
 "Vedanta up 5% as Tamil Nadu govt allows Sterlite plant to produce oxygen")
Contributed over Rs 34K cr to Indian exchequer in FY20: Vedanta Resources
Diversified natural resources firm Vedanta Resources has said it contributed $4.66 billion (Rs 34,018 crore) to the public exchequer in India during the 2019-20 fiscal
Vedanta Resources raises $1.2 bn ahead of open offer for Indian listed unit
The bond offering saw strong investor interest
Top headlines: Farmers breach Red Fort; UN warns about Indian economy
Business Standard brings you top news of the evening
 "Top headlines: Farmers breach Red Fort; UN warns about Indian economy")
S&P upgrades outlook on Vedanta Resources from 'negative' to 'stable'
Strong operating momentum and sizable free cash flow generation at Vedanta Ltd also improve liquidity at the holding company level
Vedanta Resources settles copper mine pollution claim in Zambia
The claim, centering on pollution from the Nchanga Copper Mine, was brought by more than 2,500 Zambian villagers against KCM
 "Vedanta Resources settles copper mine pollution claim in Zambia")
Vedanta Resources promoters launch open offer for 10% of India unit
If Vedanta Ltd. holders were to accept share tenders for the entire 10%, the consideration for the deal would be Rs 5,948 crore
Vedanta Resources to issue $400 million notes to Oaktree Capital
The notes will be partly secured by shares in Mumbai-listed unit Vedanta Ltd
Top headlines: UK flight ban may continue; telecom lobby slams 'sabotage'
Business Standard brings you top news of the evening
 "Top headlines: UK flight ban may continue; telecom lobby slams 'sabotage'")
London-based Vedanta Resources raises stake in India unit to 55.1%
VRL bought 18.5 crore shares at a price of Rs 159.94 per share, the company said in a statement on its website
 "London-based Vedanta Resources raises stake in India unit to 55.1%")
Vedanta Resources sells bonds worth $1 bn at one of highest yields in Asia
The company priced the January 2024 bond on Wednesday at a yield of 13.875%
 "Vedanta Resources sells bonds worth $1 bn at one of highest yields in Asia")
Vedanta Resources offers dollar bond with one of the highest yields in Asia
The firm is offering the securities with initial price guidance in the 14.5% area, according to a person familiar with the matter
