{"id":308741,"date":"2020-01-04T11:09:28","date_gmt":"2020-01-04T05:39:28","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=308741"},"modified":"2020-01-04T11:09:28","modified_gmt":"2020-01-04T05:39:28","slug":"suzlon-energy-to-offer-india-banks-68-haircut-on-debt-restructure-deal","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/suzlon-energy-to-offer-india-banks-68-haircut-on-debt-restructure-deal\/","title":{"rendered":"Suzlon Energy to offer India banks 68% haircut on debt restructure deal"},"content":{"rendered":"<p>Suzlon Energy Ltd. will offer to restructure debt at a steeper discount than Indian banks have been willing to consider so far, said people familiar with the matter, pushing the wind turbine maker closer toward bankruptcy.<\/p>\n<p>The Pune-based company proposes to swap its Rs 113 billion ($1.6 billion) of outstanding debt into Rs 36 billion of new debt, translating to a 68 per cent discount, the people said, asking not to be identified as the terms are private. Lenders had earlier indicated a willingness to take a 50 per cent haircut, the people said.<\/p>\n<p>The fresh proposal follows an assessment by Suzlon\u2019s rating company, on how much debt can be sustainably recast. A meeting with creditors is planned for next week, one person said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Suzlon Energy Ltd. will offer to restructure debt at a steeper discount than Indian banks have been willing to consider so far, said people familiar with the matter, pushing the wind turbine maker closer toward bankruptcy. The Pune-based company proposes to swap its Rs 113 billion ($1.6 billion) of outstanding debt into Rs 36 billion of new debt, translating to a 68 per cent discount, the people said, asking not to be identified as the terms are private. Lenders had earlier indicated a willingness to take a 50 per cent haircut, the people said. The fresh proposal follows an assessment [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-308741","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/308741","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=308741"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/308741\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=308741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=308741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=308741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}