Suzlon Energy Ltd.’s agreement with its largest bondholders to restructure $485 million of debt may allow Asia’s second-biggest wind turbine maker to break even this financial year for the first time since 2011.
Suzlon Energy Ltd.’s ability to repay $700 million of debt may be worse than expected after U.S. customer Edison International said the earliest it’ll pay off a contract with the turbine-maker is next year.
Suzlon Energy Ltd., India’s largest wind-turbine maker, jumped in Mumbai trading after saying a bank loan and the sale of a Chinese factory will help it raise $360 million to repay bondholders and lenders.
Suzlon Energy Ltd. advanced the most in almost three months in Mumbai trading on a plan to raise as much as $800 million this year in loans and a bond sale, easing pressure on the company to sell its Repower Systems AG unit.
India is producing power from solar cells more cheaply than by burning diesel for the first time, spurring billionaire Sunil Mittal and Coca-Cola Co.’s mango supplier to jettison the fuel in favor of photovoltaic panels.