Vedanta Resources plc
16 Berkeley Street
London W1J 8DZ
Tel: +44 (0) 20 7499 5900
Fax: +44 (0) 20 7491 8440
www.vedantaresources.com
4 April 2017
Vedanta Resources Plc announces early redemption of 2018 bonds to reduce gross debt
Vedanta Resources Plc (the 'Company') today announces its election to redeem in cash all of its outstanding 9.5% bonds (ISIN: US92241TAD46 and USG9328DAD24; CUSIP: 92241TAD4 and G9328DAD2) maturing 18 July 2018 under condition 5(b) of the terms and conditions of the bonds. The Company has duly served a Notice of Redemption effective today in accordance with the terms and conditions of the bonds and the settlement is expected to occur on 4 May 2017.
Upon settlement, the Company will reduce its near-term gross debt by $379mm in face value, in-line with its stated strategy to deleverage and extend its average debt maturity.
Tom Albanese, CEO of Vedanta Resources plc commented 'I am pleased with this proactive bond redemption, which is driven by our strategy to reduce debt and optimise the balance sheet of the group. The optimisation of balance sheet along with the ramp-ups at our operations will create value for all stakeholders.'
This announcement contains inside information.
For further information, please contact:
Communications Roma Balwani President - Group Sustainability and Communications Tel: +91 22 6646 1000 gc@vedanta.co.in Investors Ashwin Bajaj Director - Investor Relations Radhika Arora Associate General Manager - Investor Relations Sunila Martis Associate General Manager - Investor Relations | Finsbury Daniela Fleischmann Tel: +44 20 7251 3801 Tel: +44 20 7659 4732 Tel: +91 22 6646 1531 ir@vedanta.co.in |
About Vedanta Resources plc
Vedanta Resources plc ('Vedanta') is a London listed diversified global natural resources company. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland, Liberia, Australia and Sri Lanka. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of entrepreneurship, excellence, trust, inclusiveness and growth. For more information, please visitwww.vedantaresources.com.
Vedanta Resources plc published this content on 04 April 2017 and is solely responsible for the information contained herein.
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