Suzlon Reaches Deal to Restructure $485 Million of Bonds
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Suzlon Energy Ltd., the wind-turbine maker responsible for India’s biggest convertible-bond default, reached an agreement with investors to restructure $485 million of notes.
The board has approved the deal to issue new five-year convertible bonds maturing in the financial year ending March 2020, Pune-based Suzlon said in an e-mailed statement. The conversion price has been set at 15.46 rupees, it said.