BONDHOLDERS

Reliance Infrastructure plans to raise $350 million through FCCBs to repay debt and start electric power generation businesses.

Shapoorji Pallonji Group offers ₹400 crore more to Goswami Infratech bondholders to extend deadline for meeting covenants on ₹14,300 crore borrowings. The company seeks a 4-month window to sell assets, ensure payment of ₹1,400 crore interest at 18.7...

The move aims to save high interest outgo on RS 14,300 crore bond due in April 2026, refinance its debt. In mid-2023, Goswami Infratech raised Rs14,300 crore zero coupon bonds maturing in April 2026, offering 18.75% as a redemption premium. These bo...

The company is required to pay around 14 billion rupees ($167.62 million) to bondholders of Goswami Infratech when it services the debt of another group company Sterling Investment Corp.

The tier-2 bonds have a loss absorbency feature, which means that if a bank fails, its tier-2 bondholders will absorb any losses ahead of its depositors. LVB had reported about ₹3,000 crore in accumulated losses, one-fourth of its loan book had turn...

On July 23 last year, Bain Capital, a global private investment firm, entered into a definitive agreement to acquire 90% of Adani Capital and Adani Housing, another NBFC of the Adani Group. ET reported on July 22 that the Adani Group would sell its ...

This month, the Anil Agarwal-promoted company got investor approval to recast the debt ahead of a redemption deadline, with more than 97% of VRL bondholders approving the restructuring, particularly for bonds maturing in the next 18 months.

People familiar with the matter told ET that the approval is more than 97% for bonds maturing in 2024, 2025, and 2026. The company had to immediately repay $1 billion debt on January 21. It had offered an additional early consent fee for those agree...

​UK-based Vedanta Resources said on Wednesday it received bondholders' support to restructure some of its near-term debt, easing repayment pressure on the parent of Indian metals conglomerate Vedanta Ltd .

Vedanta has been paying hefty dividends over the past few quarters as it looks to support parent UK-based Vedanta Resources, which is currently looking at debt obligations of around $4.5 billion between now and March 2025.

These debentures, with a face value of ₹100,000 each and a quarterly interest payout, were allotted earlier this year, and will mature in March 2025. Earlier this month, the company’s board also approved raising ₹3,400 crore through non-convertible ...

An ad hoc group holding two guaranteed bonds of Vedanta Resources (VRL) has advised investors to reject the proposed bond restructuring outlined in the consent solicitation released on December 13. The ad hoc group includes holders of $1 billion 13....

The company had on November 28 initiated a consent solicitation process to buy back bonds with a total value of $60 million issued by two special-purpose vehicles: Azure Power Solar Energy Pvt Ltd and Azure Power Energy Ltd, as reported by ET. The p...

As part of the plan, Vedanta Resources is to pledge 13% of its stake in Vedanta Ltd (VDL) to secure a $1.25 billion financing package from a group of lenders led by Standard Chartered Bank and New York-based Cerberus Capital Management to help avert...

Standard Chartered Bank will underwrite $950 million of the $1.25 billion financing while New York-based Cerberus Capital will cover the remaining $300 million, the people said requesting anonymity. Other credit investors could join as Standard Char...

For the remaining portion of the two bonds maturing in 2024 and 2025, investors want fresh notes valued at 1.3 of each existing bond.

Fresh borrowing coupons by Vedanta have become the benchmark as they are offering close to 17-18%, higher than the 14% for rollovers.

CreditSights has maintained its 'buy' recommendation for Vedanta Resources but said it would prefer April 2026 bonds of the company.

A tranche of $1 billion, with a coupon of 13.875%, is due January next year and the remaining thereafter, which could put pressure on the group that recently sold a part of its stake in the local listed entity to meet repayments.