in News Departments > New & Noteworthy
print the content item

Suzlon Group has announced the completion of a $647 million bond issuance by its wholly owned subsidiary AE Rotor Holding. Suzlon says the funds raised will be used to refinance existing U.S. dollar-denominated foreign currency debt of the issuer and its subsidiary.

The bonds, which will be listed on the Singapore stock exchange, are backed by the State Bank of India and have a five-year bullet maturity.

Kirti Vagadia, Suzlon's head of finance, says, "In addition to the significant progress made on the final documentation for CDR package, this marks an important milestone for the group and completes one of the key requirements of our CDR proposal, addressing our major bank debts.

“The unique structure of the deal, which we believe to be the first ever USD credit enhanced bond from India, gives the Group much-needed head-room via low-cost funding and a back-ended repayment schedule,” adds Vagadia.



Advertisement

Trachte_id2056
Latest Top Stories

Deepwater Hits Financial Close For Block Island Wind Farm, Expects Summer Construction

The Providence, R.I.-based offshore wind developer becomes the first to financially close on a U.S.-based offshore wind project.


More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.


Getting A Grip On Grinding Gearboxes: Why Such Events Need Not Be Showstoppers

Despite advances in gearbox reliability - namely, from condition monitoring systems and greater design standardization - challenges remain.

Hybrid Energy Innovations 2015