Vedanta in talks with Barclays to raise Rs 1,500cr loan

The loan will have a first exclusive charge over the fixed assets of the Thoothukudi (Tuticorin) copper smelter in Tamil Nadu and an exclusive pledge over Hindustan Zinc shares, providing a 2.2x cover. The Supreme Court of India has recently allowed Vedanta to start maintenance work at Sterlite Copper facility in Thoothukudi, which is shut since 2018.

from Banking/Finance-Industry-Economic Times https://ift.tt/74lqyG0