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.”



Trachte Inc._id1770
Latest Top Stories

Suzlon Facility Lends Key Assist In Developing 'The Wind Technicians Of Tomorrow'

The turbine manufacturer’s Elgin, Ill.-based training facility is the culmination of a program that puts a new twist on a proven method of instruction.


Having Their Say: CanWEA Clarifies True Source Of Canadian Wind Success

The Canadian Wind Energy Association (CanWEA) takes issue with a recent report summary regarding various renewable energy policies in North America.


FWS Issues Landmark Eagle Take Permit: What Does It Mean For Wind Projects?

The U.S. Fish and Wildlife Service's (FWS) recent decision has far-ranging implications for operating wind farms, as well as for those under development.


'Significant' Opportunity Exists Within Wind Energy's O&M Services Market

An increasing number of wind turbines are nearing the end of their warranty period, creating significant revenue-generating opportunities within the wind turbine operations and maintenance (O&M) sector.


Cape Wind Obtains DOE Loan Guarantee To Support Offshore Wind Project Construction

The proposed 468 MW offshore wind farm located off the coast of Nantucket Sound received a key assist that should help in financing the U.S.’ first utility-scale wind farm.

Renewable NRG_id1934