[ exact phrase in "" • results by date ]

[ Google-powered • results by relevance ]


News Home

Subscribe to RSS feed

Add NWW headlines to your site (click here)

Sign up for daily updates

Keep Wind Watch online and independent!

Donate $10

Donate $5

Selected Documents

All Documents

Research Links


Press Releases


Publications & Products

Photos & Graphics


Allied Groups

Suzlon agrees to $1.97 billion debt plan  

Credit:  James Quilter, Windpower Monthly, 28 November 2012, windpowermonthly.com ~~

Suzlon has agreed a deal with banks to restructure around $1.97 billion of debts as part of its corporate debt restructuring (CDR) procedure.

CDR is a process devised by State Bank of India to help major Indian companies facing liquidity issues to deal with their debts without the company going insolvent.

The deal does not apply to the still outstanding $209 million bond deal, which was due to be repaid last month and forced Suzlon to enter into CDR on 29 October.

At the time, Suzlon said it had offered to restructure its debts with a ten-year maturity period under the CDR mechanism. This would include a two-year moratorium on principal and interest payments.

The debt renegotiation will give the company “wriggle room” in order to fund operations and build new wind projects. Although Suzlon’s core Indian market is relatively healthy, new projects tend to be built on a turnkey basis.

The debt talks were part of the company’s move to use CDR, which needed to be approved by its banks. The next stage will involve regulatory approval, with the process expected to be fully approved by the end of Q1 2013.

Although Suzlon Group announced it had crossed the 20GW mark in terms of installations, much of this has come from German subsidiary Repower, whose funds are ringfenced.

Source:  James Quilter, Windpower Monthly, 28 November 2012, windpowermonthly.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

Wind Watch relies entirely
on User Funding
Donate $5 PayPal Donate


News Watch Home

Get the Facts Follow Wind Watch on Twitter

Wind Watch on Facebook


© National Wind Watch, Inc.
Use of copyrighted material adheres to Fair Use.
"Wind Watch" is a registered trademark.