US$2.5bil debt bill shows risks ahead for Vedanta

Repayment concerns: A man walks past the Vedanta headquarters in Mumbai. The company was the first in India to list in London back in 2003. — Reuters

NEW DELHI: A moment of reckoning is approaching for Vedanta Resources Ltd. Indian billionaire Anil Agarwal’s miner has US$500mil (RM2.3bil) worth of debt to pay yesterday, and another US$2bil (RM9.2bil) due in 2024 – a record annual bill for the company.

While the May bond is trading just shy of par, pricing data on some other bonds indicate investors have repayment concerns down the road.