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Vedanta Resources Ltd. faces a moment of reckoning this week as Indian billionaire Anil Agarwal's miner seeks approval for a proposal that could help it buy more time to honor its debt liabilities.
Bondholders have until Jan. 2 to give an early consent on a plan to push out due dates on $3.2 billion in bond repayments, a move that prompted S&P Global Ratings in December to cut the company's rating deeper into junk.
Vedanta needs a green light from at least two-thirds of the bondholders in each of the three securities to proceed with the plan. A holder meeting will be held on 04 Jan 2024
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