Suzlon Energy spikes 3% on fund raising buzz

Published on Mon, Jun 11, 2012 at 14:19 |? Source : Moneycontrol.com

Updated at Mon, Jun 11, 2012 at 14:20 ?

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Suzlon Energy spikes 3% on fund raising buzz

Suzlon Energy gained more than 3% after CNBC-TV18 reported that the company is in advanced talks to raise up to USD 300 million refinance loan.

Suzlon Energy gained more than 3% after CNBC-TV18 reported that the company is in advanced talks to raise up to USD 300 million refinance loan.

Wind turbine manufacturer is in talks with SBI, IDBI, PNB, Central Bank and YES Bank to raise loan to repay FCCB bondholders.

Suzlon will be meeting bondholders (including USD 300 million zero coupon convertible bonds due 2012 and USD 35.592 million 7.5% convertible bonds due 2012) today for extension of the maturity date of the bonds by 45 days from June 12 to July 27, 2012.

The Economic Times reported that bondholders may approve 45-day extension for FCCB repayment.

At 14:09 hours IST, the share was trading at Rs 18.55, up 3.06% after hitting an intraday high of Rs 18.70 and low of Rs 18.20.
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Market capitalisation of the company currently stands at Rs 3,297.01 crore.

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