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- “If the government truly cared about farmers, it should have convened an all-party meeting. The TVK government is adopting a new technique to deal with TN’s issues.” – Udhayanidhi Stalin
- “There is no problem with changing the names of schemes; what matters is that the schemes continue. Schemes that people value should continue regardless of which party is in power.” – DMDK MLA Premalatha Vijayakant (in the Assembly)
- The Chennai High Court has issued a strong directive to the police to immediately register an FIR if customers are charged extra for liquor.
- “The CM keeps warning at every meeting that no one who accepts bribes can remain in the Cabinet. Not a single MLA or minister has taken even one rupee as a bribe in any department.” – Minister Aadhav Arjuna
- “If the Tamil Nadu CM faces any humiliation while visiting Karnataka, the entire state of TN will rise in protest.” – Premalatha
- “Udhayanidhi is destroying the movement founded by Anna with obscene language. Remarks that demean women are unacceptable.” – Minister Aadhav
- “Crippling the opposition is condemnable. Expressing opinions is a democratic right. Democracy is upheld by responding to opinions with counter-opinions, not by making arrests. Differences of opinion should not be dealt with through arrests.” – Premalatha
- “Avoiding the imprisonment of Udhayanidhi would enhance the ruling party’s credibility.” – Thirumavalavan
- “Why is CM Vijay showing more urgency regarding the arrest operation than he did regarding the Cauvery river water issue?” – Seeman
Coimbatore
Anil Agarwal’s Vedanta Resources completes repayments to bondholders
February 14, 2024
Coimbatore ; Metals and mining giant Vedanta Resources Ltd on Friday said it has made an upfront payment of USD 779 million to its bondholders and completed repayments as part of the debt restructuring exercise. The upfront payment to the bondholders was made on Wednesday, Vedanta Resources Ltd (VRL) said in a statement. VRL completed repayments to its bondholders on February 7, 2024, in line with the consents it received earlier in the year in which maturities of USD 3.2 billion in bonds were successfully extended to 2029, the statement said. Vedanta Resources has successfully made an upfront payment of USD 779 million in cash to bondholders to redeem a portion of the bonds and extend their maturities.It has also paid a consent fee of USD 68 million to the bondholders who had agreed to the restructuring, the company had said earlier. Vedanta in January received consent from bondholders to restructure four series of bonds to ease its massive debt burden. These series of bonds include two of USD 1 billion each that were due for maturity in 2024, one USD 1.2 billion bond in 2025 and one USD 600 million in 2026.VRL in December had secured a USD 1.25 billion loan from private credit lenders to refinance/repay part of the USD 3.2 billion debt maturing in 2024 and 2025. Vedanta Group announced a significant demerger and reorganization plan in September last year. The move will recast the Vedanta Group across 17 major businesses, the statement said.”Each of the businesses has world-class management leadership, employs the latest cutting-edge technologies, have import substitution and fulfilment of domestic demand as a core proposition. They also offer high quality and diversified investment opportunities to institutional and retail investors alike,” the statement said. Vedanta has a unique portfolio of assets among Indian and global companies with metals and minerals – zinc, silver, lead, aluminum, chromium, copper, nickel; oil and gas; a traditional ferrous vertical including iron ore and steel; and power, including coal and renewable energy; and is now foraying into manufacturing of semiconductors and display glass.
