Rapid Holding GmbH, owned by Centerbridge Partners, plans to issue EUR 400 million in aggregate principal amount of senior secured notes to partially fund the acquisition of German wind turbine developer, Senvion.
Net proceeds of the offering of the Notes, which are due in 2020, will be used together with equity contributions from Centerbridge affiliates and borrowings under a €180 million cash liquidity facility.
In January 2015, Suzlon agreed to sell 100% stake in its subsidiary in a deal valued at EUR 1 billion.