Suzlon starts debt-restructure talks, suspends guidance

Indian-owned wind turbine giant Suzlon has started discussions with a key group of lenders with the aim of restructuring its debt.

The proposal under discussion with the company’s senior secured lenders foresees a maturity period of ten years under India’s CDR (corporate debt restructuring) mechanism, including a two-year moratorium on principal and interest payments on term-debt, Suzlon says.

The company has also suspended its previously-given guidance for the current financial year, becasue “liquidity constraints over the first half of the fiscal [year], a volatile market environment and the time-line of the CDR process will continue to impact performance".

Suzlon’s chief financial officer Kirti Vagadia says: “The company has, in consultation with its Log in to read complete article.

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