Suzlon considers $500m bond issue to meet debt obligations

Indian wind turbine manufacturer Suzlon says it is considering a new $300m-$500m bond issue in order to help meet its short-term debt payments.

The company's looming obligations include $569m of payments on equity-backed foreign currency convertible bonds (FCCBs).

Suzlon chief financial officer Kirti Vagadia says in a statement: "We are working aggressively on our plans to manage our near-term repayment obligations and remain very confident of meeting them.”

Vagadia adds: "We have excellent business visibility, backed by a record order book, secure long-term OMS (operations, maintenance and service) revenues, and almost no leverage on our international assets.

“Our lenders are fully supportive and we are also working with large international banks on meaningful debt-raising options, including high-yield…

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