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Chennai, May 28

Suzlon Energy Ltd has said that it has renegotiated financial covenants and amended key terms of its senior bank loan facilities taken for acquiring REpower Systems in 2007. In a communication to the stock exchanges, the company said as a result of this renegotiation, it had achieved more relaxed financial covenants for the balance tenure of the loan, inclusion of Hansen Transmissions International NV and its subsidiaries for the computing the financial covenants, and higher threshold with respect to additional indebtedness for Suzlon and its subsidiaries. In February 2007, Suzlon raised ?1,575 million debt from a consortium of 24 international banks to fund the acquisitions of REpower and Hansen Transmissions. The total outstanding as on March 31, 2009, was ?504 million funded facility and a ?205-million guarantee facility. When contacted the company declined to provide additional details. - Our Bureau

More Stories on : Mergers & Acquisitions | Non-conventional Energy | Suzlon Energy Ltd

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