in News Departments > FYI
print the content item

India-based wind turbine manufacturer Suzlon Group has initiated discussions with its senior secured lenders and plans to restructure its debt with a maturity period of 10 years under the corporate debt restructuring (CDR) mechanism, including a two-year moratorium on principal-and-interest payments on term debt.

"The company has, in consultation with its senior secured lenders, taken the decision to undertake a debt-restructuring exercise under the CDR mechanism," says Kirti Vagadia, Suzlon's chief financial officer. "Our senior secured lenders are supportive of our long-term business plans and our efforts to consolidate our overall debt to achieve a sustainable capital structure.

“Considering our overall business outlook, we recognize that despite strong business fundamentals and a $7.2 billion order book, liquidity constraints over the first half of the fiscal, a volatile market environment and the timeline of the CDR process will continue to impact performance,” Vagadia continues. “Taking this into account, the management team has decided to suspend guidance for the current fiscal; however, we remain confident of the company’s performance over the mid-term and of returning the business to a position of strength.”


Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Wind Energy Dominates New U.S. Power In October

Data from the Federal Energy Regulatory Commission shows that wind power accounted for over two-thirds of the country's new electricity generating capacity in last month.


Are Fitch Ratings' Claims About Wind Farm Underperformance Unfounded?

A recent report from Fitch Ratings suggests that wind farms underperform due to an overestimation of wind resources, but AWS Truepower says the analysis misses the mark.


SunEdison Buying First Wind In $2.4 Billion Deal

Global solar company SunEdison and its yeildco have announced an agreement to buy the Boston-based developer, a major player in the U.S. wind industry.


U.S., China Reach Ambitious Climate Change Accord

The agreement between the global superpowers leans heavily on the deployment of renewable energy, such as wind and solar.


What The Midterm Elections Mean For The U.S. Wind Industry

Both chambers of Congress are now under Republican control for the first time since 2006. How will wind energy fare?

Renewable NRG_id1934
Hybrid Energy Innovations 2015