|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||122.40 - 128.10|
|52 Week Range||60.20 - 167.00|
|Beta (5Y Monthly)||1.86|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 17, 2020 - Aug 21, 2020|
|Forward Dividend & Yield||7.80 (6.21%)|
|Ex-Dividend Date||Mar 05, 2020|
|1y Target Est||284.86|
Moody's Investors Service has assigned a B3 rating to the proposed USD notes to be issued by Vedanta Holdings Mauritius II Limited, a wholly-owned, step-down subsidiary of Vedanta Resources Limited (VRL, B1 negative). The outlook on the rating is negative. VRL is in the process of fully privatizing its key operating subsidiary, Vedanta Limited (VDL), by increasing its stake to 100% from 50.1% and delisting the company.
(Bloomberg) -- Vedanta Resources Ltd. is seeking to increase the size of a planned loan to fund the delisting of its India unit by as much as $500 million, said people familiar with the matter.The addition of a new part to the deal structure would take the total planned debt sought by the London-based commodity conglomerate to as much as $3.25 billion, the people said, asking not to be identified as the matter is private. The new loan tranche matures in April 2021 and is intended to give Vedanta room to increase a planned offer for its Mumbai listed unit Vedanta Ltd., should it need to do so, the people said.The move comes as Vedanta Resources prepares to launch the formal offer to buy back the shares it doesn’t already hold of Vedanta Ltd. The proposed delisting is part of Chairman Anil Agarwal’s plan to simplify his investments across a complex multi-tiered corporate structure.A Vedanta spokesman said the company doesn’t comment on speculation.Vedanta has interests in zinc, aluminum and oil and gas, and they have been buffeted by volatile prices because of weakened demand amid the pandemic. The proposed increase in the loan is at least the second by the company.Details of parts of the loan structure are still being negotiated between the company and lead underwriters, the people familiar said.Vedanta Resources plans to fund future repayments of the deal’s third tranche, which may total as much as $1 billion, from proceeds of rupee bonds sold by Vedanta Ltd.’s cash-rich unit Hindustan Zinc Ltd. Specific details are yet to be finalized.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Moody's Investors Service (" Moody's ") has confirmed Vedanta Resources Limited's B1 corporate family rating (CFR) and the B3 rating on the company's senior unsecured bonds. Moody's has also confirmed the B3 rating on the senior unsecured bonds issued by the company's wholly-owned subsidiary, Vedanta Resources Finance II Plc, and guaranteed by Vedanta.