Chief
financial
officer
Kirti
Vagadia
says
Suzlon
is
at
an
“advanced
stage”
of
raising
up
to
$300m
in
new
finance
to
meet
its
June
obligations.
Vagadia
says:
“Our
banks
are
aligned
and
supportive
of
our
initiatives
to
address
near-term
obligations
and
achieving
our
long-term
capital
structure
objectives”.
He
adds:
“In
order
to
ensure
there
is
adequate
time
for
the
necessary
requisite
approvals
and
administrative
documentation,
we
have
asked
our
bondholders
for
an
extension
of
maturity
of
up
to
45
days."
A
Suzlon
official
tells
Recharge
that
requesting
an
extension
is
a
procedural
“safeguard”
mechanism…
