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Vedanta Ltd. Partnered with SBI and SBICTCL

Published on September 01, 2020
Current Context: Vedanta Ltd has partnered with State Bank of India and SBICAP Trustee Company Ltd.
Vedanta Ltd. Partnered with SBI and SBICTCL

  • They have entered into a partnership for long term syndicated loan facility for Rs 10,000 crore.
  • SBI will be acting as a facility agent and SBICAP Trustee Company Ltd as security trustee.
  • As a lender, SBI has assured to offer Rs 5000 crore.
  • This loan facility will help to stipulate refinancing of near term debt maturities of Vedanta. This will thus boost the maturity profile and will improve the liquidity ratio.
  • A syndicated loan is the loan amount which is offered by a group of lenders with an aim to grant credit to the large borrower.
  • Static Part: 
    • HQ of Vedanta Ltd: Mumbai
    • HQ of SBI: Mumbai
    • Chairman of SBI: Rajnish Kumar

Question: 

Q.1 Which of the following bank has partnered with Vedanta Ltd for long term syndicated loan facility for Rs 10,000 crore?
a. Union Bank of India
b. UCO Bank
c. State Bank of India
d. Syndicate Bank
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