Vedanta Resources Ltd., owned by Indian billionaire Anil Agarwal, is negotiating with banks to secure over $450 million through a loan to refinance existing debt, according to sources familiar with the situation.
The lenders involved in discussions include First Abu Dhabi Bank PJSC, Barclays Plc, Mashreqbank PSC, and Standard Chartered Plc. The sources, who requested anonymity due to the confidential nature of the talks, mentioned that the loan could have a term of three to five years.
The funds raised may be used to refinance Vedanta’s outstanding junk bonds. (Source: Bloomberg)
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