Vedanta Resources close to raising $1.25 billion from Standard Chartered Bank, Cerberus Capital

Vedanta Resources is close to finalising a $1.25 billion loan jointly provided by Standard Chartered Bank and Cerberus Capital Manage­ment. The move could help it avert a default on bonds due in January 2024. Standard Chartered Bank will underwrite $950 million of the $1.25 billion financing while Cerberus Capital will cover the remaining $300 million.