Suzlon Energy Ltd had, pursuant to a resolution passed by its Board of Directors on May 03, 2014, issued separate notices each dated May 06, 2014 convening meetings of the holders of the 0% October 2012 Bonds, the 7.5% October 2012 Bonds, the 0% July 2014 Bonds and the 5% April 2016 Bonds to consider the proposed restructuring of the Existing Bonds. The meetings of the holders of the Existing Bonds are proposed to be held on July 09, 2014. In furtherance to the same, the Company has issued a consent solicitation memorandum and an information memorandum each dated June 17, 2014, providing further information in relation to the commercial terms of the proposed restructuring of the Existing Bonds, including the terms and conditions of the new foreign currency convertible bonds (FCCBs) (the “Restructured Bonds”). Suzlon has received approval of the Corporate Debt Restructuring (CDR) Empowered Group for the debt restructuring proposal and has also received approval of the Reserve Bank of India (RBI), subject to specified conditions. The restructuring proposal, including the terms of the Restructured Bonds, is subject to the approval by the requisite majority of the holders of the Existing Bonds in each series.
Category Archives: Energy Stocks
L&T Construction secures orders valued 29.35 Billion INR
Mumbai, March 10, 2014: L&T Construction has won new orders worth Rs. 2935 crores (INR 29.35 billion) across various business segments in February and March 2014.
In the Transportation Infrastructure Business, new orders worth Rs. 1035 Crores have been won. A major EPC order has been received from Rail Vikas Nigam for construction of roadbed, major and minor bridges, track linking, outdoor signaling and electrical works in connection with doubling of Sambalpur-Barpali, Barpali-Bolangir, Bolangir-Titalgarh sections as part of Sambalpur-Titalgarh doubling of East coast Railway project in Odisha state. Continue reading L&T Construction secures orders valued 29.35 Billion INR
Iran Oil Deal
On 24 Nov 2013, Iran, USA and five other countries struck a deal aimed at curbing Iran’s nuclear programme in exchange for an easing of the sanctions against Iran. This may have significant implications for India which was Iran’s second-largest importer of oil. The easing of sanctions against Iran should result in lower oil prices, which will benefit India. However, as global demand for Iranian oil increases, Iran will become less dependent on India, and may stop accepting Indian rupees as part payment for oil and may favor trade with countries paying fully in US dollars.