Suzlon seeks more time to settle further $220m chunk of bonds

Indian wind group Suzlon is to seek a four-month extension on the maturity dates of bonds worth about $220m to give it time to sort out its financing arrangements.

Suzlon will meet with bondholders on 10 October to ask for the extension until 11 February 2013.

The request relates to $200m and $20.8m sets of foreign currency convertible bonds (FCCBs). Both fall due on 11 October.

Suzlon has already been through a similar process once this year, and faced questions from financial analysts at the start of 2012 over how it planned to meet its looming obligations.

In May it asked holders of $360m of FCCBs maturing in June to extend their redemption date while it raised finance to meet the…

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