Vedanta repays USD 100 million to Standard Chartered Bank

New Delhi, Mar 15 (PTI) Vedanta Ltd on Wednesday said that it has repaid USD 100 million to Standard Chartered Bank through release of encumbrance on March 10.

Vedanta Resources Ltd has earlier said it has enough means to meet debt repayment liabilities in the coming quarters as it looked to assuage investor concerns around its financial position.

Vedanta Resources is the majority owner of Mumbai-listed mining and oil & gas company Vedanta Ltd.

“The earlier disclosure was made pursuant to facility agreement dated 8 September 2022 entered into between Twin Star Holding Limited (as borrower), Vedanta Resources Limited and Welter Trading Limited (as original guarantors), and Standard Chartered Bank (Singapore) Limited (as original lender)… for the purposes of availing a facility of an aggregate amount of USD 100,000,000.

“However, the said facility has been repaid and the encumbrance has been released,” Vedanta said in a filing to BSE.

Vedanta Resources had 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 said the company is confident of meeting its liquidity requirements for the quarter ending June 2023.

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