Suzlon Energy plans to raise about Rs 3,000 crore to refinance debt

Wind energy equipment maker Suzlon Energy (SEL) is planning to raise about Rs 3,000 crore through long-term credit to refinance its existing term loans and non-fund-based limits.

The company is looking at refinancing in order to streamline the lenders, avail better terms from restrictions on cash usage, and bolster growth of the business.

The cash flows are ring-fenced, and the existing or proposed debt is being restructured or sanctioned for the entities under Suzlon The Group  (STG) — comprising SEL and its four subsidiaries. The overall rated limits, including term loans and non-fund-based limits, would remain equal or lower than Rs 4,467