Vedanta faces buyback costs as bonds trade above par value (opens original article in a new tab)

Vedanta Resources initiated a $3.6 billion bond buyback as part of a $5.4 billion refinancing plan, facing potential premium payments to bondholders due to bonds trading above par value, with the goal of reducing borrowing costs and extending maturities.

• Vedanta Resources launched a $3.6 billion bond buyback as part of a $5.4 billion refinancing plan
• The company may pay $250-300 million in premiums to bondholders due to bonds trading above par value
• Refinancing aims to reduce borrowing costs by 300 basis points and extend debt maturities
• Investor meetings in London, Boston, and New York are ongoing to gauge demand for new bond issuance