Suzlon Energy, through its Dutch subsidiary AE-Rotor Holding, has issued US$647 million in Regulation-S bonds. The bonds are thought to be the first credit-enhanced dollar bonds to come from India. They have the benefit of an unconditional and irrevocable standby letter of credit (SBLC) issued by State Bank of India (SBI).
Suzlon, the world’s fifth largest wind turbine supplier, is restructuring its indebtedness under India’s corporate debt restructuring mechanism, which is a non-statutory voluntary mechanism under the aegis of the Reserve Bank of India. The bond offering was part of the agreement under which Suzlon was required to refinance part of its non-rupee-denominated indebtedness.
You must be a
subscribersubscribersubscribersubscriber
to read this content, please
subscribesubscribesubscribesubscribe
today.
For group subscribers, please click here to access.
Interested in group subscription? Please contact us.