Vedanta Ltd has tied up a facility of Rs 8,000 crores (replacement facility) with Union Bank of India at 7.75% to take over the majority of the syndicated facility after discussions with lenders. During 2020, amid the COVID-19 pandemic, Vedanta Ltd had tied up a syndicated facility of ₹10K crores with the State Bank of India as the lead bank at a running cost of 10.5 per cent.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
This replacement facility was availed on December 28, 2021, to take over the existing Syndicated facility to reduce the overall interest cost of the company and to prepay high-cost debt raised at over 10% two years ago.
Important takeaways for all competitive exams:
India has many cities that are famous for their unique industries, and some of them…
Some deserts are extremely hot, but some remain cold throughout the year. These cold deserts…
In today’s world, news media plays a very important role in sharing information quickly and…
PNB Housing Finance has announced the appointment of Ajai Kumar Shukla as its new Managing…
In a major push towards deepening financial inclusion, the Department of Posts (DoP) and BSE,…
India’s retail inflation, measured by the Consumer Price Index (CPI), increased modestly to 0.71% in…