Suzlon defaults on bond payments worth $172 million

MUMBAI: Troubled wind turbine maker Suzlon Energy Ltd on Tuesday said it has failed to make a payment of principal amount of $172 million for outstanding bonds, due in July.

The outstanding payment was part of a total bond issuance of $546.91 million, the company said in a filing to stock exchanges.

“The company is working on a holistic solution for its debt and continues to be in discussions with various stakeholders in relation to its outstanding debt (including the bonds),” Suzlon said in the filing.