Vedanta Resources late Wednesday said it raised $1.25 billion from financial institutions for refinancing, including a new credit facility. The company also said it started consent solicitations with existing bondholders to extend debt maturity profile, allowing for extension of maturities, amendments to bond terms and seeking certain waivers.
India beats a hasty retreat from a crucial market reform
India’s market-closing auction reform, designed by Sebi to curb price manipulation, has faced volatility and investor backlash within weeks. The regulator may weaken or abandon