The outstanding principal amount of $172 million was part of a bond issue of $546.91 million.
Wind turbine maker Suzlon Energy July 16 defaulted on a payment of $172 million worth of principal amount related to outstanding bonds. "The company has not made the payment of the principal amount of the outstanding bonds, being $172,000,000 (about Rs 1,180 crore), which was due on July 16, 2019, (Tuesday) in accordance with the terms and conditions of the bonds," Suzlon Energy said in a statement.
It added that the company is working on a holistic solution for its debt and continues to be in discussions with various stakeholders in relation to its outstanding debt, including the bonds.The outstanding principal amount of $172 million was part of a bond issue of $546.91 million.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.