Suzlon hires Houlihan Lokey, plans to rejig Rs 1,200-crore overseas debt
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The Suzlon Energy shares fell by 12 per cent on Thursday to Rs 7 a share on Thursday
Renewable power company Suzlon Energy has hired Houlihan Lokey, an investment banking firm, to help it restructure its foreign currency convertible bonds (FCCBs) worth Rs 1,200 crore, which is due in July. The bondholders will have to take a substantial haircut on their investment as the company’s financials have deteriorated since the bonds were issued.
Currently, the bonds are trading at a discount of 17 per cent overseas, said a source close to the development. The Suzlon Energy shares fell by 12 per cent on Thursday to Rs 7 a share on Thursday.
Source: business-standard
