Business Standard Archives - ׶Ƶ Know More. Risk Better.® Mon, 31 Jul 2023 20:08:51 +0000 en-US hourly 1 /wp-content/uploads/cropped-favicon-512x512-1-32x32.png Business Standard Archives - ׶Ƶ 32 32 Vedanta: Mining giant Glencore lends $250 million to rival Vedanta Resources https://www.business-standard.com/companies/news/mining-giant-glencore-lends-250-million-to-rival-vedanta-resources-123053000346_1.html#new_tab Tue, 30 May 2023 15:18:56 +0000 /?p=13149 Calling Glencore’s debt investment as “eleventh-hour reprieve”, analysts say the group will be able to tide over the ongoing crisis. “We remain aware of refinancing risk on VRL’s $4.1-billion debts...

The post appeared first on ׶Ƶ.

]]> Calling Glencore’s debt investment as “eleventh-hour reprieve”, analysts say the group will be able to tide over the ongoing crisis. “We remain aware of refinancing risk on VRL’s $4.1-billion debts due in FY24, for which VRL will likely have to rely heavily on external fundraising for a $2.1-billion refinancing and an additional $950 million to plug a funding gap. At this point, we would still lean towards VRL being successful at tying up its $2.1-billion fundraising, given VRL’s recent debt reductions, fresh fundraising efforts and that we think various alternative funding channels remain open for VRL like share pledges and some dividend upstreaming,” said Lakshmanan, a senior analyst with ׶Ƶ.

The post appeared first on ׶Ƶ.

]]>