The deal was unanimously approved by secured lenders and reduces Suzlon’s term debt substantially.
It also replaces the balance of debt it owes to its lenders with debt securities and shares
Suzlons CFO Swapnil Jain said: This debt restructuring will ease the pressure on our cash flows significantly and give us headroom for ramping up business operations.
We have reduced our fixed cost steeply and brought down the interest costs by more than 70%.
This has resulted in substantial reduction in the break-even point from pre-restructuring levels, ensuring a long-term sustainable business case. It improves our overall competitiveness in the marketplace, and now Suzlon is back to business from a position of strength.
Suzlon’s share price ro…
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