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Sobha to launch projects worth Rs 2,800 crore
Sobha Developers, the Bangalore-based publicly held real estate developer, is positioning itself on the springboard as it envisages launching projects worth Rs 2,800 crore over the next 12-18 months covering 8 million square feet. This statement is perhaps is one of the most encouraging one to come from one of the established developers as the real estate market is looking to come out of the woods of global recession.

Equally expensive
Though the Congress party had allocated Saifuddin Soz a seven-seater helicopter for campaigning in far-flung areas of Jammu & Kashmir, he chose to use road transport. It was only when someone pointed out that the idle chopper was also costing his party a lot that Soz decided to use it to go to Ladakh.

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Shree Renuka Sugars jumps 4%
The stock jumped 4.24 per cent to Rs 227.65 to an all-time high, after the company acquired Vale Do Ivai SA (VDI), a Brazil-based sugar and ethanol firm. The acquisition includes two sugar and ethanol production facilities with a combined cane crushing capacity of 3.1 million tonnes per annum.
Public Relations

Suzlon repays $780 million of acquisition loan

Wind Turbine maker Suzlon Energy repaid $780 million (around Rs 3,700 crore) acquisition loan. This has also made the company achieve a net reduction in overall debt by $350 million (around Rs 1,700 crore). - Government launches incentive scheme for wind energy projects - F&O OUTLOOK: Indecisiveness spreads to stocks futures - Indecisiveness spreads to stocks futures - Tanti says Suzlon to seal $2.8 bn refinancing Deal - Suzlon to supply 15 units of wind turbines to RSMML - Suzlon Energy rises 4.7% The payment was made from proceeds of a partial stake sale in Hansen Transmissions International NV, in addition to a new five-year US dollar denominated loan of $465 million (around Rs 2,190 crore) from State Bank of India. The company did not elaborate on the loans that have been repaid. But the firm had raised finances to acquire Hansen and Germany’s Repower Systems. “This transaction concludes the first phase of our refinancing exercise. We have achieved an overall improvement in our debt profile, with reduction of nearly 15 per cent. We continue to work towards optimising our capital structure,” said Sumant Sinha, COO Suzlon Energy. The company in is filing to the Bombay Stock Exchange said that the new five-year $456 million loan provides for a two-year moratorium on repayments of principal as well as two-year holiday on debt covenants. SBI Caps was the sole financial advisor on the Dollar facility, while on the Rupee facility SBI Caps is Global Coordinator and mandated lead arranger and IDBI Bank is the lead arranger. Rothschild is the acting financial advisor to Suzlon on debt refinancing.


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