Vedanta is planning to issue non-convertible debentures (NCD) worth Rs 2,000 crore. The issuance of NCDs is part of the overall debt refinancing of the company to substitute short-term liabilities and/or to retire higher cost debt. The NCDs are proposed to be listed on BSE.
For the quarter ended June 2015, Vedanta's gross debt rose Rs 1,778 crore to Rs 79,530 crore on account of funding project payments and temporary working capital requirements, adding that debt levels are expected to come down as working capital is repaid in Q2 of 2015-16.
Out of the total debt of Rs 79,530 crore, debt in Indian currency is Rs. 38,616 crore and the balance Rs 40,914 crore in US dollars.
Vedanta is one of the world’s largest diversified natural resource companies. Its business primarily involves exploring, extracting and processing minerals and oil & gas.
