Suzlon Energy Ltd. (SUEL), India’s biggest wind-turbine maker, said lenders approved a 95 billion rupee ($1.8 billion) debt-restructuring plan and a two-year moratorium on principal and interest payments.
A consortium of 19 banks led by State Bank of India approved the proposal to reduce the interest rate by 3 percent and extend repayment by eight years after the moratorium, which begins Oct. 1, Pune-based Suzlon said in a stock exchange statement, which didn’t give the current rates of interest.
A consortium of 19 banks led by State Bank of India approved the proposal to reduce the interest rate by 3 percent and extend repayment by eight years after the moratorium, which begins Oct. 1, Pune-based Suzlon said in a stock exchange statement, which didn’t give the current rates of interest.
