Suzlon Group, the world’s fifth largest wind turbine maker, has initiated discussions with its senior secured lenders and plans to restructure its debt with a maturity period of ten years under the 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. This is an important step towards stabilizing the company’s business by enhancing liquidity and injecting additional working capital.
The Suzlon Group is ranked as the world’s fifth largest wind turbine supplier, in terms of cumulative installed capacity, at the end of 2011.
