Vedanta has tied up with State Bank of India (SBI) for a long-term syndicated loan facility worth Rs 10,000 crore. A syndicated loan is offered by a group of lenders who work together to provide credit to a large borrower. The facility end use stipulates refinancing of near-term debt maturities of Vedanta and for capital expenditure of the metals and mining giant. This extends maturity profile, improves liquidity ratio and reinforces the commitment of lenders in the growth story of Vedanta.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc leadsilver, copper, iron ore, aluminium and commercial power.
