Page 4 - Vedanta Resources

Crisil revises rating outlook on Vedanta Ltd to negative from stable

Delay in debt refinancing of Vedanta Resources, higher-than-expected dividends by Vedanta Limited seen as key rating sensitivity factors

We will soon be India's second-largest gas producer: Cairn Oil & Gas CEO

In the near term, we would like to be a 500,000-barrels-per-day company and, after that in the next four-five years, a million barrel company

Vedanta Resources to challenge winding up of Zambian business in court

According to a notice filed in court on June 6, Vedanta wants to be represented by lawyers Nchito & Nchito and not those appointed by the provisional liquidator

Zambia High Court appoints administrator for Vedanta owned copper firm

Vedanta Resources is the major shareholder in Konkola Copper Mines with a 79.4 per cent stake, while ZCCM-IH holds 20.6 per cent

Vedanta Resources raises $1 billion through bond issue to repay debt

The bonds attracted interest from global investors across Europe, North America and Asia

Anil Agarwal's Vedanta Resources delists from London Stock Exchange

Volcan Investments Ltd, controlled by Agarwal as Executive Chairman, had announced a successful buyout of the company's shares in September

UK group to protest at Vedanta AGM, seek justice for Thoothukudi victims

The group blames the City of London Corporation and UK's Financial Conduct Authority (FCA) for failing to regulate or penalise the company, which will be formally delisted from the LSE on Oct 1

UK activists plan protest over Tuticorin violence at Vedanta's final AGM

Vedanta Resources chairman Anil Agarwal is set to take the LSE-listed company private from Monday

Vedanta Resources to ink deals for 41 oil and gas blocks on October 1

Volcan Investments, a family-controlled entity of Agarwal, is buying stake worth around $1.03 billion, valuing Vedanta at $3.07 billion

Vedanta Resources Chairman Anil Agarwal to take company private on Oct 1

Vedanta was the first Indian company to list in London in 2003

Vedanta Resources delisting from LSE to complete by September end

Vedanta Resources is the holding company of Vedanta Ltd with 51 per cent stake in the latter

Anil Agarwal given more time to make firm offer for Vedanta Resources

Britain's Takeover Panel has granted an extension to Aug 6 to facilitate financing talks between Volcan and its lenders

Vedanta delisting not related to Tuticorin incident: Anil Agarwal

Volcan, a holding company owned by a trust controlled by Agarwal, on Monday announced an intention to make a $1 billion offer to buy the 33.65 per cent of Vedanta at 825 pence per share

Vedanta Resources mulls options for iron ore workers after shutdown

Vedanta said in late March it was likely to record an impairment charge of up to $600 million following the closure of the iron ore business

Moody's upgrades Vedanta Resources' corporate family rating to Ba3

Moody's Investors Service today upgraded London-based Vedanta Resources plc's corporate family rating (CFR) and senior unsecured bond rating and placed a stable rating outlook for the company. "The upgrade of Vedanta's ratings reflects our view that the relatively benign operating environment and stabilizing commodity prices will aid in enhancing the company's EBITDA and cash flow generation," Moody's quoted Kaustubh Chaubal, vice president and senior analyst as saying. "Moreover, a substantial reduction in absolute debt levels will lead to an improving trajectory for its credit metrics," he added. The upgrade also reflects significant progress that Vedanta has made in reducing absolute debt levels following the merger of its subsidiary Vedanta Ltd with the group's oil and gas subsidiary Cairn India. The company has reduced about 17 percent of its gross debt.Meanwhile, higher sales volumes led by an increase in production will pave the way for earnings and cash flow expansion, ...

Now, Vedanta eyeing stressed steel assets

Chairman Anil Agarwal says would bid for assets that give return on capital

Vedanta's quarterly core earnings rise 48 percent on higher zinc output

The company said revenue rose 32 percent to $3.08 billion in the quarter

Vedanta Resources raises $1.8 bn to refinance two of its bond issues

London-listed Vedanta Resources said it had raised $1.8 billion, via a combination of bonds and term loans, to refinance two of its bond issues, earlier scheduled to mature in 2019 and 2021, respectively.With this, the company is expected to have no significant bank loan repayments due over the next 18 months and will extend Vedanta's average debt maturity by 1.5 years, while also lowering the average cost of borrowing.This transaction is said to have led to only a small saving but with extended maturity and lower interest cost, the main purpose.Of the amount in question, $1 billion was raised by Vedanta Resources from the bond market. This is set to mature in 2024 and carries an interest rate of 6.125 percent, the company stated. In January, the Anil Agarwal-led company had raised another $1 bn from the bond market for a tenure of five years, at an interest rate of 6.375 per cent, to refinance its near-term debt (2018 and 2019 bonds). Vedanta said it would use the net proceeds to ...

Vedanta's chairman not eyeing Anglo American assets in South Africa

Agarwal also said he would be happy to help Anglo American move into India

Vedanta Resources announces pricing of $1-bn bond offering

Company to use part of the proceeds to repay existing indebtedness