Suzlon Energy's total debt at Rs 14,262 crore

New Delhi: Suzlon Energy on Tuesday said its debt as on March 31 stood at Rs 14,262.06 crore, which also includes outstanding foreign currency convertible bonds worth Rs 1,376.30 crore ( around USD 172 million). The company’s total outstanding borrowing from banks or financial institutions is Rs 12,885.75 crore, according to a regulatory filing by Suzlon.

It said the resolution plan for restructuring of the total debt facilities has been approved by 100 per cent of lenders by value, and 100 per cent of lenders by numbers.

On March 30, the company said an SBI-led consortium of lenders had approved a debt resolution plan unanimously.

Similarly, in a meeting of bond holders in Singapore on April 6, the company got approval for resolution of outstanding USD 172 million worth bonds. The amount comes to around Rs 1,376.30 crore at exchange rate of Rs 75.67 per USD.

The company also said the current default amount (principal and interest) stood at Rs 7,714.73 crore including interest of Rs 754.13 crore. This includes fund-based working capital, non fund based working capital, term loans, Stand by Letter of Credit from SBI-led consortium of 18 banks and Indian Renewable Energy Development Agency. The first day of default was March 19, 2019.

The company’s debt resolution plan is under the final implementation stage, it said.


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