Su­zlon arm AERH re­deems bonds worth $590.4 m

The Financial Express - - MONEY & MARKETS -

Wind tur­bine maker Su­zlon En­ergy on Fri­day said its step-down sub­sidiary AE-Ro­tor Hold­ing (AERH) has re­deemed bonds worth $590.4 mil­lion (about Rs 3,900 crore) and also ar­ranged a credit fa­cil­ity of the same amount at a com­pet­i­tive rate. Bonds were backed by SBLC from var­i­ous lenders. AERH had is­sued 5 year bonds on March 28, 2013 for $647 mil­lion (about Rs 4,205 crore) with a coupon rate of about 5%.

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