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| Exchange Disseminated Time 12/05/2016 16:35:04 | Vedanta Ltd has informed BSE that THL Zinc Limited, an overseas subsidiary of the Company, has agreed to extend the maturity of the loan of USD 1.25 billion, which was taken for a term of two years in May, 2014, from Cairn India Holdings Limited, an overseas subsidiary of Cairn India Limited (CIL), subsidiary of the Company, for a further period of two years.
The extension is on arm's length at a revised rate of interest of LIBOR + 450 bps in the first year and at LIBOR + 475 bps in the second year, on terms that are market standards including change of control provisions and will continue to be secured by a guarantee from Vedanta Resources Pic. |
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