The company plans to extend debt repayment with a ten-year maturity period, including a two-year moratorium on principal and interest payments on term-debt.
Suzlon Group chief financial officer Kirti Vagadia said that the company’s senior secured lenders are supportive of the change to consolidate overall debt.
"This is an important step towards stabilizing our business by enhancing liquidity and injecting additional working capital. We believe this will help us to safeguard the interests of our key stakeholders, including customers and vendors.
"Considering our overall business outlook, we recognize that despite strong business fundamentals and a US$7.2 bn orderbook, liquidity constraints over the first half of the fiscal, a volatile market environment, and the timeline of the CDR process will continue to impact performance," he added.
