In 2007, amid an an aggressive campaign of expansion and acquisition, Theolia sold $240m in convertible bonds. The bonds were set to mature as early as January 2012, depending on the firm's performance.
By late 2009, however, having been hammered by the financial crisis and a management shake up, the Aix-en-Provence-based company acknowledged it would not be able to repay its bondholders on time.
Theolia,
