Suzlon misses $172 million payment on July 2019 convertibles

Chicago, July 17 - Suzlon Energy Ltd. has failed to make the payment due on its outstanding $546,916,000 step-up convertible bonds due July 2019, according to a company notice.

The company missed paying the principal amount of $172 million, due July 16.

According to the release, the company is working on a holistic solution for its debt and “continues to be in discussions with various stakeholders in relation to its outstanding debt (including the bonds).”

Pune, India-based Suzlon is a wind power company that manufactures, designs, develops and sells wind turbine generators.

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