Suzlon uses SBI letter of credit to get past debt woes

Indian wind turbine company Suzlon Energy managed to pull off its debut dollar bond despite being in the midst of a debt restructuring this week, appealing to investors after including a guarantee from the State Bank of India, writes Matthew Thomas.

  • 27 Mar 2013
The company is in the middle of a corporate restructuring, but overcame the negative headlines to become the first Indian company to sell a dollar bond backed by a standby letter of credit. That structure has been used plenty of times in the past by Chinese corporations, but ...

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