Vedanta paid $100 million to Standard Chartered Bank

Vedanta Resources is a Mumbai-based mining and oil and gas company Vedanta Ltd. (File)

New Delhi:

Vedanta Ltd said today that it has paid $100 million to Standard Chartered Bank through an encumbrance relief on March 10.

Vedanta Resources Ltd said it has enough cash to meet debt repayment obligations in the coming quarters as it sought to allay investor concerns over its financial health.

Vedanta Resources is the principal owner of Vedanta Ltd, a Mumbai-based mining and oil and gas company.

“The foregoing information is made pursuant to a facility agreement dated September 8, 2022, between Twin Star Holding Limited (as Borrower), Vedanta Resources Limited and Welter Trading Limited (as Primary Guarantor) and Standard Chartered Bank (Singapore) Limited (as Originator). creditor)… for the purpose of using funds totaling $100,000,000.

“However, the said facility has been settled and the encumbrance has been discharged,” Vedanta said in a filing with the BSE.

Vedanta Resources said it has prepaid all its debt due by March 2023 and has written down $2 billion over the past 11 months.

Additionally, the company said it is confident it will meet its liquidity requirements for the quarter ending June 2023.

(Except for the headline, this story was not edited by NDTV staff and was published on a syndicated channel.)

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