Suzlon told the Mumbai stock exchange its bondholders had agreed a package that replaces existing bonds due in 2012, 2014 and 2016 with new FCCBs maturing on 16 July 2019.
The new bonds – which Suzlon plans to issue on 15 July – will have a coupon rate of 3.25% for the first 18 months and then 5.75%.
Agreement over the FCCBs ends a dispute that has hung over Suzlon since 2012, when it was forced to ask creditors for more time to settle the bonds and became locked in negotiations over their settlement.
The
