Vedanta Resources PLC Repayment of Convertible Bonds (1602E)

TIDMVED

RNS Number : 1602E

Vedanta Resources PLC

14 July 2016

Vedanta Resources plc

16 Berkeley Street

London W1J 8DZ

Tel: [phone]

Fax: [phone]

www.vedantaresources.com

Vedanta Resources plc

Repayment of Convertible Bonds

London, 14 July 2016 - Vedanta Resources plc announces that it has repaid in full and redeemed the $514.8 million of outstanding amount on its 5.5% 2016 convertible bonds due on 13th July 2016.

With this payment, all outstanding USD bond maturities due in FY2017 at Vedanta Resources plc have been repaid (except the $8mn of 4% convertible bonds due in March 2017). The next bond maturity for Vedanta Resources plc is the 9.5% $750 million bond maturing in July 2018.

Vedanta continues to actively manage its maturities and evaluate various options to optimise its balance sheet and reduce financing costs, including further bond buybacks. The company remains committed to its stated Group strategy of deleveraging and strengthening the balance sheet.

For further information, please contact:

 
 Communications                           Finsbury 
 
  Roma Balwani                             Rebecca Fitchett 
  Group Communications & Sustainable       Tel: [phone] 
  Development                              [e-mail] 
  Tel: [phone] 
  [e-mail] 
 
  Investors 
 
  Ashwin Bajaj                             Tel: [phone] 
  Director - Investor Relations            [e-mail] 
 
  Radhika Arora 
  Associate General Manager 
  - Investor Relations 
 
  Ravindra Bhandari 
  Manager - Investor Relations 
 

About Vedanta Resources plc

Vedanta Resources plc ("Vedanta") is a London listed diversified global natural resources company. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland, Liberia and Australia. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care. For more information, please visit www.vedantaresources.com.

Disclaimer

This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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July 14, 2016 02:00 ET (06:00 GMT)