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“The earlier disclosure was made pursuant to facility agreement dated 08 September 2022 entered into between Twin Star Holding Limited, Vedanta Resources Limited and Welter Trading Limited, Standard Chartered Bank (Singapore) Limited for the purposes of availing a facility of an aggregate amount of US$ 100,000,000. However, the said facility has been repaid and the encumbrance has been released,” the company said in a statement.
Continuing its efforts to convince the investor community about debt being within manageable limits, Vedanta recently said the company has always met its repayment commitments on time and has full capability to repay.
Vedanta Resources said it has pre-paid all of its debt that was due for repayment till March 2023, deleveraging by USD 2 billion in the past 11 months. Further, it is confident of meeting its liquidity requirements for the quarter ending June 2023.
“Capital is necessary for growth and nation-building. All, including sovereign, individuals and companies borrow keeping in view growth prospects and, therefore, the ability to repay,” the company said.
Vedanta has a robust record of raising over USD 35 billion in capital, and has always met repayment commitments on time. “We have a tremendous asset base which delivers high cash flows. There is full capability to repay. With the ongoing expansions, we expect our revenue to be USD 30 billion in the near term,” the company said in the post.
During FY22, Vedanta Limited delivered an EBITDA of USD 6.1 billion and free cash flow (pre-capex) of USD 3.6 billion.
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