Friday, February 15, 2013

LENDERS APPROVE RECAST OF SUZLON'S Rs 9,500-CRORE DEBT

Loss-making wind turbine maker Suzlon Energy said lenders, comprising 19 banks led by State Bank of India, have approved its proposal to recast Rs 9,500 crore of debt. On January 18, the banks have given Suzlon a two-year moratorium on principal and term-debt interest payments. They have also approved a fresh working capital loan of Rs 1,800 crore that will have a six-month interest moratorium, aimed at helping the company speed up execution of its strong order book.

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