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Vedanta Resources' bonds decline on profit drop at India-listed arm

Vedanta Resources' bonds decline on profit drop at India-listed arm https://ift.tt/r4vTayJ faces potential rating action by S&P Global in the absence of a credible refinancing plan by July end for $1 billion bonds. On Friday, it told investors that the brand fee, at 3% of VDL's annual revenue and subject to reviews within the six-year set mandate, can be increased to 5% without shareholders' approval.
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