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India : NEW Restructured FCCBs issued by Suzlon Energy

July 17, 2014

Suzlon Energy Ltd. said that the Securities Issue Committee of the board had agreed the allotment of new restructured foreign currency convertible bonds (FCCBs) amounting to $546,916,000 to the holders of the Existing Bonds on satisfaction of certain conditions precedents in line with the conditions of the consent solicitation and applicable laws and regulations.

Pursuant to the consent solicitation concerning the Existing Bonds, the company has alloted the Restructured Bonds which will mature on July 16, 2019. The zero percent October 2012 Bonds, the 7.5 percent October 2012 Bonds and the zero percent July 2014 Bonds have ceased to exist in full, the company said.

The company said $146,200,000 of the principal amount of the 5% April 2016 Bonds had in addition been substituted by Restructured Bonds and $28,800,000 of the principal amount of the five percent April 2016 Bonds remain outstanding.

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Source: TendersInfo (India)

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