Suzlon stares at $172 mn FCCB repayment in July; explores funding options

Wind power solutions provider Suzlon Energy will need to pay another $172 million towards its foreign currency convertible bonds (FCCB)s due in July this year. While, there are concerns on the company’s debt repayment schedule, the company reiterated it is making progress on its strategic initiatives.

According to Bloomberg data, Suzlon has an FCCB worth $172 million up for repayment in July.

Media reports on Monday suggested that talks with Vestas Wind Energy for a stake purchase in Suzlon had failed. “We do not comment on specific discussions with any specific party at this point. We shall ensure necessary disclosures at the appropriate time,” the company said in a media statement on Monday.