, India

Suzlon defaults on US$209 million in convertible bonds

May issue notes denominated in US$ to fund 2012 repayment.

Sources said India’s largest maker of wind turbines failed to redeem US$175.8 million of zero-coupon notes and US$32.8 million of 7.5% bonds that fell due on October 11.

Suzlon completed a US1.7 billion debt restructuring last month that included issuing shares to its lenders.

 

 

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