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."
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