05 APRIL 2017Press Release
Vedanta Resources Plc announces early redemption of 2018 bonds to reduce gross debt
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<p>Vedanta Resources Plc today announces its election to redeem in cash all of its outstanding 9.5% bonds maturing 18 July 2018 under condition 5(b) of the terms and conditions of the bonds.</p>
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<p>The Company has duly served a Notice of Redemption effective today in accordance with the terms and conditions of the bonds and the settlement is expected to occur on 4 May 2017.</p>
<p>Upon settlement, the Company will reduce its near-term gross debt by $379mm in face value, in-line with its stated strategy to deleverage and extend its average debt maturity.</p>
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<p>Tom Albanese, CEO of Vedanta Resources plc commented: "I am pleased with this proactive bond redemption, which is driven by our strategy to reduce debt and optimise the balance sheet of the group. The optimisation of balance sheet along with the ramp-ups at our operations will create value for all stakeholders."</p>
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