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Suzlon Energy down 3% on seeking extension for FCCB redemption

Company is seeking four months extension for Zero Coupon and 7.5% convertible bonds

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SI Reporter Mumbai
Last Updated : Jan 20 2013 | 5:29 AM IST

Shares of wind-energy major Suzlon Energy were down over 3% after the company after market hours Tuesday informed that it is seeking four-month extension of its Zero Coupon foreign currency convertible bonds due October 2012.

The company has issued notices to the bond holders of $200 million Zero Coupon Convertible Bonds due October 2012 and $20.796 million 7.5% Convertible Bonds also due October 2012 for extension of maturity dates for each of the series of the Bonds from 11 October 2012 to 11 February 2013, Suzlon said in a release to the Bombay Stock Exchange.

The meetings of the Bond holders are proposed to be held on October 10, 2012, the release said.

A combined volume of over 2.3 million shares were traded on the Bombay Stock Exchange and National Stock Exchange.

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First Published: Sep 20 2012 | 9:49 AM IST

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