Vedanta Resources Ltd (VRL), led by mining tycoon Anil Agarwal, has repaid a $250 million loan it received from Barclays and Standard Chartered Bank, regulatory filings show.

The company had earlier said it had sufficient capacity to pay down debt in the coming quarters as it looked to assuage investor concerns about its finances. VRL, the majority shareholder in Mumbai-listed mining and oil and gas company Vedanta Ltd, repaid a $150 million loan from Barclays.

“The earlier disclosure was made under the date of June 16, 2022, by Twin Star Holdings (the borrower), VRL and Welter Trading Ltd (as the original guarantor), Deutsche Bank through its Singapore branch and Barclays PLC (as the original guarantor) Lender under the Facility Agreement entered into on December 11, 2019), the purpose of which is for the Borrower to secure a total loan amount of $150 million from the original lender,” the company said in a filing to the BSE.

However, it said the facilities had been repaid, and the encumbrances had been discharged. The company also repaid a $100 million loan from Standard Chartered Bank.

“The earlier disclosure was made under an agreement between Twin Star Holding, VRL and Welter Trading (as original guarantor), Standard Chartered Bank (Singapore) Limited (as original lender) and Standard Chartered Bank (as arranger and agent). The financing agreement was made to utilise loans totalling $100 million. However, said loans have been repaid, and encumbrances have been discharged,” another regulatory filing said.

Last month, VRL said it was finalising a $1.75 billion fundraising through syndicated loans and bilateral bank financing. The company has said it has prepaid all maturing debt through March 2023, reducing leverage by $2 billion over the past 11 months.

Furthermore, it is confident of meeting its liquidity requirements for the quarter ending June 2023. Headquartered in London, VRL is a diversified global natural resources company with operations in India, Zambia, Namibia and South Africa.