Suzlon brings India's first CB this year

The $150 million deal comes with a tight 10% conversion premium, but is mostly pre-placed with a group of long-only anchor investors.
Suzlon sets out to take full control of Germany's REpower.
Suzlon sets out to take full control of Germany's REpower.

Suzlon Energy, India’s biggest maker of wind turbine generators and the third-largest wind power equipment maker in the world, on Monday raised $150 million from a five-year convertible bond, which it will use as part payment to squeeze out minority shareholders in its German subsidiary REpower.

The company said in a separate announcement on Monday that it had increased its shareholding in REpower above the 95% threshold that will allow it to initiate squeeze-out proceedings to make the German company a wholly owned subsidiary it previously held 90.5%. If successful, that will mean it can properly integrate REpower into its other businesses, which until now has been impossible due...

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