The company is working on finalising various definitive agreements with the lenders, it told BSE The State Bank of India (SBI)–led consortium has unanimously approved the restructuring of Suzlon Energy’s Rs 14,000 crore worth of debt, the company said in a filing with the BSE. “The company is working on finalising various definitive agreements with […]
Suzlon Energy defaults on borrowings worth Rs7,256.38cr
The company’s filing said that the loans were given by a consortium of 18 banks led by the State Bank of India and Indian Renewable Energy Development Agency (IREDA). Suzlon Energy, on Tuesday, notified that it has defaulted on loans worth Rs7,256.38cr due on March 19, 2019. The company’s filing said that the loans were […]
Bankers look to resolve account of troubled wind turbine maker Suzlon Energy
Sources privy to the development told IANS that lenders may seek a month’s extension for complete resolution of Suzlon beyond the stipulated 180 days allowed under the latest Reserve Bank of India circular. New Delhi: Bankers may make one more attempt to resolve the account of troubled wind turbine maker Suzlon Energy to prevent the […]
Suzlon Energy Q2 net loss widens to Rs 777 cr
Its revenue from operations fell to Rs 803.09 crore during the quarter under review as against Rs 1,194.99 crore in the year-ago period. New Delhi: Suzlon Energy on Thursday reported widening of its consolidated net loss to Rs 777.52 crore in the quarter ended September 30, 2019. The company had reported a net loss of […]
Suzlon Energy has found a new suitor, says chairman Tulsi Tanti
Development comes after rescue plan involving the purchase of a majority stake by Brookfield faltered Tanti says Suzlon Energy can’t disclose the name as it has signed a confidentiality agreement NEW DELHI : Suzlon Energy Ltd has found a new suitor even as a rescue plan of Canada’s Brookfield Asset Management Inc. faltered, said Tulsi […]
Suzlon Energy denies reports of filing for bankruptcy, stock dives by 9 per cent
“We wish to reiterate that Suzlon’s debt resolution and revival plans have never been dependent on any single option,” it informed stock exchanges in regulatory filings Mumbai (Maharashtra): Troubled renewable energy solutions provider Suzlon on Monday denied reports suggesting that it has filed for bankruptcy and will soon be approaching the National Company Law Tribunal […]
Suzlon Energy denies reports of filing for bankruptcy, stock dives by 9 pc
Mumbai (Maharashtra) [India]: Troubled renewable energy solutions provider Suzlon on Monday denied reports suggesting that it has filed for bankruptcy and will soon be approaching the National Company Law Tribunal (NCLT). “We wish to reiterate that Suzlon’s debt resolution and revival plans have never been dependent on any single option,” it informed stock exchanges in […]
Suzlon Energy tumbles 6% on concerns over looming default
Discussions are on between bondholders and Suzlon Energy for resolution Shares of Suzlon Energy declined over 5 per cent in early trade on Tuesday after reports that the company is staring at a default on redemption of its foreign currency convertible bonds (FCCBs) worth $172 million, or Rs 1,200 crore, due on Tuesday. It has […]
Investors await Suzlon Energy bond payout in the year of defaults
Suzlon Energy must repay $172 million outstanding on such securities that were issued as part of a debt restructuring Investors in Indian corporate debt are watching whether a stressed wind-turbine maker will repay its dollar-denominated convertible bonds due Tuesday, and help avoid further widening of strains in the nation’s credit market. Suzlon Energy, which became […]
Brookfield may buy controlling stake in debt-ridden Suzlon Energy
Deals Buzz: Brookfield may buy controlling stake in debt-ridden Suzlon Energy In other news, Byju’s, India’s most valued ed-tech company, raised $150 million in its latest round of funding led by Qatar Investment Authority (QIA), the sovereign wealth fund of Qatar Mumbai: Mint brings you your dose of the top deals news, reported from newsrooms […]