Promoter group member vedanta resources Ltd. has signed a $600 million borrowing agreement with five overseas banks, Vedanta Ltd. said in a stock exchange filing on Thursday. The facility agreement, signed Tuesday, includes First Abu Dhabi Bank PJSC, Mashreqbank PSC, Standard Chartered Bank, Standard Chartered Bank (Mauritius) Ltd., and Sumitomo Mitsui Banking Corp. (Singapore).Hindustan Zinc Ltd. also disclosed the deal, citing its connection to Vedanta Resources through its promoter, Vedanta Ltd.The borrowing agreement places restrictions on Vedanta and Hindustan Zinc. Without consent from the lenders—and subject to specific carve-outs—they cannot create security over their assets, sell or dispose of assets outside ordinary business, or invest in businesses unrelated to mining, metals, oil and gas, infrastructure or energy.
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