Wind power solutions provider Suzlon Energy will need to pay out another $172 million towards its foreign currency convertible bonds (FCCB) due in July this year. While there are concerns on the company's debt repayment schedule, the company reiterated it is progressing on its strategic initiatives. According to Bloomberg data, Suzlon has an FCCB worth $172 million up for repayment in July. Media reports on Monday suggested talks with Vestas Wind Energy for a stake purchase in Suzlon has failed. "We do not comment on specific discussions with any specific party at ...
Indian wind turbine manufacturer Suzlon is once again facing rumours of possible default after deal talks with Vestas collapsed as July’s repayment of $172m for its foreign currency convertible bonds looms. Suzlon’s debts have already been downgraded to default by ratings agency CARE Ratings, which added redemption of Suzlon’s foreign currency convertible bonds in time would be “challenging”. The company said it was working on strategic initiatives.