Vedanta Resources plans to meet investors as it faces $2 billion in debt

The mining company has already started an exercise to identify investors for its dollar bonds maturing in January and August, as well as bonds maturing in March 2025.

Vedanta Resources Ltd. plans to meet with bondholders in Singapore and Hong Kong, people familiar with the matter said, as the junior-rated Indian miner faces about $2 billion in notes repayments next year.
A no-deal roadshow will take place as early as next week, said some of the people, who asked not to be named because the matter is private. JPMorgan Chase & Co. and Standard Chartered Plc, according to others, are helping to organize the event.

A global rise in borrowing costs has boosted shares in billionaire Anil Agarwal’s firm, which has to repay a record amount of bonds next year. Several of the group’s bonds are trading below 75 cents on the dollar, levels seen as a sign of distress. S&P Global Ratings downgraded its outlook on Vedanta’s B- rating from stable to negative, citing challenging financing conditions.

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