Vedanta Resources Seeks to Refinance $550M Credit Facility

Vedanta Resources, the parent company of Vedanta, is trying to get a new loan to replace an existing one.

They want to refinance a $550 million loan that has a very high interest rate.

They are talking to banks from different countries to get a better interest rate, which will save them money.

The current loan has an 18% interest rate and is set to mature in 2026.

The new loan is expected to have a much lower interest rate, potentially saving them around $47 million.