Suzlon Energy aims to raise USD 2 billion through NCDs

of them, the renewable energy company will prepay its term debt with the proceeds from the offering. In December 2022, Suzlon Energy had a debt of 2,035 crore. The proceeds from the fundraiser were used to pay down $35,931,200 in foreign currency convertible bonds (FCCBs) that were scheduled to mature in 2032. A spokesman for Suzlon declined to comment on the anticipated financing but noted that the company is constantly looking for innovative methods to strengthen its balance sheet.

A representative for JP Morgan declined to comment. Suzlon Energy was finally able to generate a positive profit after tax on an operational basis in Q2FY23 after five years. Since FY18, the company has experienced a number of restructurings with its lenders because of the significant increase in debt.