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Suzlon cuts debt liability to $389 mn

Suzlon cuts debt liability to $389 mn
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First Published: Mon, May 11 2009. 10 53 PM IST
Updated: Mon, May 11 2009. 10 53 PM IST
New Delhi: Suzlon Energy Ltd cut its debt liability by 22% after swapping and buying back convertible bonds.
The nominal outstanding amount was reduced to $389 million from $500 million after the company waived the minimum consent conditions for the June 2007 and October 2007 bonds, Suzlon said in a statement to the Bombay Stock Exchange on Monday.
Suzlon said it will pay a total of $11.8 million as incentive fee to the holders of the June 2007 bonds who approved an amendment resolution on an offer to change the terms of the debt at a meeting on 29 April.
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First Published: Mon, May 11 2009. 10 53 PM IST
More Topics: Suzlon Energy | Debt | Funds | Bonds | Corporate News |