Agarwal’s Vedanta Seeks Cash With $500 Million Bond Maturing
- Vedanta Ltd. board mulls first dividend this fiscal year
- Vedanta Resources junk-rated bond due at the end of this month
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Billionaire Anil Agarwal’s Vedanta Group is looking to free up cash and raise funds, possibly via a loan, as its $500 million junk-rated bond matures at the end of this month.
The board of Vedanta Ltd. will consider paying out a first dividend for the current business year at an upcoming meeting, according to a statement. The Indian mining conglomerate is also in talks with banks to raise at least $500 million, according to people familiar with the matter.