Next Week, Vedanta Resources Will Close $1.2 Billion in Private Credit Financing

According to persons with knowledge of the situation, the billionaire Anil Agarwal-led Vedanta Resources plans to partially repay $3.2 billion in bonds that mature in 2024 and 2025

Other participants in the round include Davidson Kempner Capital Management, Varde Partners, and Ares SSG Capital Management

In order to prevent a possible default, the group needs to complete the transaction.

The $1 billion in 13.875 percent bonds due in January, the additional $1 billion in 6.125 percent notes due in August 2024

A representative for Davidson Kempner declined to comment, while emails to Varde Partners, Ares SSG, and Cerberus Capital went unanswered.

Negotiations are at a final stage and an agreement is expected to be signed by next week