Skip to content
Search

Latest Stories

Anil Agarwal’s Vedanta Resources signs £438 million refinancing deal

The refinancing move, where old loans are replaced by new ones, often at better terms like lower interest rates, has led ratings agencies such as S&P Global Ratings and Moody's to upgrade their outlook on the company this year.

Anil Agarwal

Vedanta Resources, which is based in the UK and owned by Indian billionaire Anil Agarwal, has been working on reducing its debt. (Photo credit: Getty Images)

Getty Images
Vivek Mishra
By Vivek MishraJun 27, 2025
Vivek Mishra
Vivek Mishra works as an Assistant Editor with Eastern Eye and has over 13 years of experience in journalism. His areas of interest include politics, international affairs, current events, and sports. With a background in newsroom operations and editorial planning, he has reported and edited stories on major national and global developments.
See Full Bio
Follow:

VEDANTA LTD said on Thursday that its parent company, Vedanta Resources, has signed a loan facility agreement worth up to £438 million with international banks to refinance existing debt.

The refinancing move, where old loans are replaced by new ones, often at better terms like lower interest rates, has led ratings agencies such as S&P Global Ratings and Moody's to upgrade their outlook on the company this year.

According to Vedanta's exchange filing on Thursday, the lenders involved in the deal include Standard Chartered Bank and its Mauritius unit, First Abu Dhabi Bank, Mashreqbank, and Sumitomo Mitsui Banking Corp.

Vedanta Resources, which is based in the UK and owned by Indian billionaire Anil Agarwal, has been working on reducing its debt.

The company lowered its net debt by £876m, bringing it down to £8.1 billion in fiscal 2025.

(With inputs from Reuters)

anil agarwalinternational banksrefinancing dealvedanta

Related News

foreign investors India market
Business

New book explains how foreign investors can enter Indian market

Tata-somerset-plant
Business

Government hands Tata £380m for Somerset battery plant

Anil-Agrawal-vedanta
Business

Anil Agarwal: Open up India's defence manufacturing to private sector

iran-war-fish-and-chips
Featured

Middle East war puts Fish and Chips shops 'under threat'

More For You

Elon Musk and Sam Altman
Musk vs Altman: $134bn battle over OpenAI’s future heads to court
Getty Images / Edited in Canva

Musk vs OpenAI: Is the $134bn battle driven by rivalry as company claims?

  • Elon Musk accuses OpenAI of abandoning its non-profit mission
  • Trial could shape control, structure and future of one of AI’s biggest players
  • Top tech figures, including Microsoft’s CEO, expected to testify

A long-running dispute between Elon Musk and Sam Altman has now reached a courtroom in California, setting the stage for one of the most closely watched trials in the tech world. The case, centred on the direction and control of OpenAI, begins with jury selection in Oakland and is expected to run for up to three weeks.

At its core, the lawsuit questions whether OpenAI drifted away from its original purpose. Musk claims the company he co-founded in 2015 as a non-profit has shifted into a profit-driven enterprise, breaching its founding principles. He has named Altman, OpenAI president Greg Brockman and major partner Microsoft in the case, accusing them of breach of contract and unjust enrichment.

Keep ReadingShow less