{"id":308830,"date":"2020-01-04T12:06:47","date_gmt":"2020-01-04T06:36:47","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=308830"},"modified":"2020-01-04T12:06:47","modified_gmt":"2020-01-04T06:36:47","slug":"suzlon-offers-lenders-68-discount-on-debt-recast-deal-report","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/suzlon-offers-lenders-68-discount-on-debt-recast-deal-report\/","title":{"rendered":"Suzlon offers lenders 68% discount on debt recast deal: Report"},"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 \u20b911,300 crore ($1.6 billion) of outstanding debt into \u20b93,600 crore of new debt, translating to a 68% discount, the people said, asking not to be identified as the terms are private. Lenders had earlier indicated a willingness to take a 50% haircut, the people said.<\/p>\n<p>Suzlon will offer to retain \u20b91,350 crore of contingent debt, including bank guarantees, that will raise overall recovery for banks to 39.1% from 31.8%. <\/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 \u20b911,300 crore ($1.6 billion) of outstanding debt into \u20b93,600 crore of new debt, translating to a 68% discount, the people said, asking not to be identified as the terms are private. Lenders had earlier indicated a willingness to take a 50% haircut, the people said. Suzlon will offer to retain \u20b91,350 crore of contingent debt, including bank [&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":[139,130,237],"tags":[],"class_list":["post-308830","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-power-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/308830","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=308830"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/308830\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=308830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=308830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=308830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}