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Suzlon Energy to restructure Rs 10,000 crore debt

28 Nov 2012 Evaluate

Wind turbine maker, Suzlon Energy’s lenders have agreed to restructure about Rs 10,000 crore of its debt. The world's fifth largest wind turbine maker suffered badly during the debt crisis and has a total debt worth Rs 10,829 crore. The restructuring will give some respite to the company.

In the restructuring process there are eighteen banks which will be involved in total. The entity has defaulted on foreign loans worth more than about Rs 1,100 crore last month after offshore lenders refused to give more time for repayment.

Suzlon Energy Share Price

54.98 -0.67 (-1.20%)
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