Suzlon slips after bondholders rejects FCCB extension

Stocks

oi-Sneha

By Sneha B K

Published: Thursday, October 11, 2012, 10:15 [IST]

Shares of the Suzlon Energy Ltd slipped 5% on Thursday after bondholders rejected 4-month extension on USD 220.8 million October FCCBs, as per Reuters report.

"I regret to announce today that the bondholders' meetings did not achieve the consensus we were hoping for and the four-month extension sought by us has not been granted," Kirti Vagadia, chief financial officer of the Suzlon Group, said in a statement on Thursday.

The stocks of the company was seen trading lower 3.63% at Rs 15.95 on BSE at 10.10 am IST. It touched intra-day low of Rs 15.70.

Earlier, debt-hit Suzlon Energy, its group-subsidiary REpower Systems SE had signed a contract with Meridian Energy to supply 64 MM92 wind turbines.

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