Vedanta has tied up a facility of Rs 8,000 crore with Union Bank of India to take over a majority of the syndicated facility after multiple discussions with potential lenders. The replacement facility was availed to take over the existing Syndicated facility to reduce the overall interest cost of the company in the normal course of business and to align the debt with market benchmarks. The company continues to explore all options to increase its debt maturity profile and reduce its interest cost.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.
