Charanjit Singh News
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Suzlon Energy Ltd., India’s biggest wind turbine-maker, today paid $360 million to redeem its U.S. dollar-denominated convertible bonds, Chief Financial Officer Kirti Vagadia said.
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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.
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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.
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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.
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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.
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Suzlon Energy Ltd., India’s largest wind-turbine maker, dismissed a report that it may relist its German unit to raise cash and repay debt.
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Suzlon Energy Ltd.’s chief financial officer quit as widening losses at India’s biggest wind-turbine maker jeopardize its ability to meet debt repayments this year.
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The following companies may have unusual price changes in India trading . Stock symbols are in parentheses and share prices are as of the last close .
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