RCS - Vedanta Resources - Vedanta Resources Limited Net Debt Reduction

VedantaAnnouncement

24/04/2023 10:45

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RNS Number : 2152X  Vedanta Resources Limited  24 April 2023

24 April 2023

 
Vedanta Resources reduces its gross debt from $7.8bn to $6.8bn

 

London, 24 April 2023: Vedanta Resources Limited (Vedanta), the parent company
of Vedanta Limited, India's largest natural resources company, announces that
it has paid all its maturing loans and bonds due in April 2023 and has thus
reduced its gross debt by a further US$1bn. Vedanta has now reduced debt by
US$3bn since it announced in February 2022 its intention to accelerate
deleveraging and reduce its debt by US$ 4 bn within 3 years. Vedanta has
thereby achieved 75% of its committed reduction in just 14 months.

 

Vedanta's gross debt stands at $6.8 bn as of today, down from $7.8bn at the
end of March 2023 (as announced on 15(th) February) and down from $9.7bn at
the end of March 2022.

 

During the balance of FY24, we believe that strong operational performance
from our world class asset base coupled with robust commodity prices will lead
to further deleveraging at Vedanta.

 

 For Investor enquiries:

 Mr. Jack O'Brien Director - Strategy & Investor Relations
 (ir@vedanta.co.in (mailto:ir@vedanta.co.in) )

 For media queries, please contact:

 Ms. Ritu Jhingon, Group Director - Communications (Ritu.Jhingon@vedanta.co.in
 (mailto:Ritu.Jhingon@vedanta.co.in) )

 

About Vedanta Resources Limited

Vedanta Resources Limited ("Vedanta") is a diversified global natural
resources company. Its portfolio includes Zinc (world's largest integrated
producer), Aluminium (India's largest producer of primary aluminium), Oil
& Gas (India's largest private producer of crude), Silver (6(th) largest
producer globally), Copper, Iron Ore & Steel, battery metals: Nickel
(India's sole nickel producer) & Cobalt and Commercial Energy. Vedanta is
a former FTSE 100 company headquartered in London with operations in India,
Zambia, Namibia and South Africa. The company uniquely covers traditional and
leading-edge businesses. For more information on Vedanta Resources, please
visit www.vedantaresources.com (http://www.vedantaresources.com)

Disclaimer

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regulatory nature. These uncertainties may cause our actual future results to
be materially different that those expressed in our forward-looking
statements. We do not undertake to update our forward-looking statements.

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