Suzlon Energy has received its shareholders approval for $1.8 billion Corporate Debt Restructuring (CDR) package. The CDR package of $1.8 billion comprises a two year moratorium on principal and term-debt interest payments; a three percent reduction in interest rates and six months moratorium on working capital interest. As a part of the package, over the next two years, Rs 1,500 crore will be converted into equity or equity linked instrument to bring stronger financial stability and a 10 year door-to-door back-ended repayment plan.
Suzlon Energy is leader in wind energy in the India, which is world’s fifth largest wind energy market. Its business model has range of services that include development, manufacturing, marketing, EPC project delivery and operations and maintenance of wind turbine generators around the world.
