Suzlon tumbles 9% as compnay fails to repay $172 million bond payment

NEW DELHI: Shares of Suzlon EnergyNSE -3.23 % tumbled nearly 9 per cent in Wednesday’s trade after the stressed wind turbine maker failed to pay the principal amount on the outstanding bonds to the tune of $172 million.

The company told stock exchanges that it is working on holistic solution for its debt and continues to be in discussions with various stakeholders in relation to its outstanding debt.

Suzlon has told bondholders that they will have to wait until banks accept its proposed one-time settlement plan.