suzlon-trims-debt-costs-by-issuing-second-cb

Suzlon trims debt costs by issuing second CB

The fast-growing wind turbine company attracts strong demand thanks to a relatively low conversion premium and stabilising credit markets.

By Anette Jönsson

September 23, 2007

IndiaÆs Suzlon Energy, the worldÆs fifth largest manufacturer of wind turbine generators, was back in the market Friday raising $200 million from its second convertible bond issue in four months and, like last time, investors piled in for a chance to be part of this fast-growing company.

Having recently completed the Ç1.3 billion $1.8 billion acquisition of its German rival, REpower Systems, Suzlon is seen to be in a prime position to accelerate its growth in Europe, both within the onshore and offshore technology markets. The company says it will be able to increase volumes at REpower, while reducing input costs and improving margins. It is currently undergoing an aggressive expansion program that will increase...

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