Suzlon Energy board approves cashless restructuring of its FCCBs worth $485
mn
Country’s largest wind turbine maker Suzlon Energy on Monday announced that board of company has given nod to cashless restructuring of its Foreign Currency Convertible Bonds (FCCBs) worth USD 485 million for five years. “The Board of Directors of the Company has approved a cashless restructuring proposal in respect of the existing bond holder worth USD 485 million for five years,” Suzlon Energy said in a filing to Bombay Stock Exchange. As a part of the restructuring, the company will issue approximately USD 485 million and the new restructured bonds will have a maturity period of five years and one day from the date of issue. Cheering the news, shares of company gained as much as 10.16 per cent to trade at Rs 14.74 a piece on the BSE
Country’s largest wind turbine maker Suzlon Energy on Monday announced that board of company has given nod to cashless restructuring of its Foreign Currency Convertible Bonds (FCCBs) worth USD 485 million for five years. “The Board of Directors of the Company has approved a cashless restructuring proposal in respect of the existing bond holder worth USD 485 million for five years,” Suzlon Energy said in a filing to Bombay Stock Exchange. As a part of the restructuring, the company will issue approximately USD 485 million and the new restructured bonds will have a maturity period of five years and one day from the date of issue. Cheering the news, shares of company gained as much as 10.16 per cent to trade at Rs 14.74 a piece on the BSE
