Suzlon Energy close to striking deal on FCCB default with bondholders

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SummaryWind turbine maker Suzlon Energy is said to be close to striking a deal with its foreign currency convertible bonds (FCCB) holders.

worth $175 million totaling $396.23 million.

Suzlon reported a loss of R782 crore for the second quarter of FY14. Suzlonís Q2 FY14 total income was down by 16.49% to R4,808 crore. Suzlonís net debt at the end of October 2013 was R14,156 crore. Suzlon had set a target of raising $400 million from sale of assets but it was taking more time that expected due to difficult business environment. The Suzlon stock was up 6.47% on the BSE to R11.69 on Tuesday.

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