Brookfield bids for Suzlon; offers one-time settlement for Rs 9,500-cr debt

The one-time settlement offer was made after the company defaulted to Indian lenders in the March quarter

Brookfield is making a bid for Suzlon Energy but would require 45 days to complete the due diligence, the company’s lenders were informed on Friday.

This would make it difficult for Suzlon to pay back the $172 million foreign currency convertible bonds (FCCBs), due on July 16, to its bond holders. 

Considering the current market price, FCCB holders will not convert bonds into equity and Suzlon will have to repay the principal, which will be challenging, said a source.

During a meeting held here between the bankers of Suzlon Energy and the company’s management, the company made a one-time settlement