SUZLON; IMPORTANT UPDATE

• As we all know, SUZLON has been reported to be in the process of tying up funding for meeting its debt obligations in respect of FCCBs.
• Earlier it was reported that the Company could be looking to either an international  listing of RE POWER and/or a stake sale.
• Now Reuters has reported a few hours ago that the SUZLON management has denied any such Plans ie listing / stake sale mentioned above.
• Instead, it has now been indicated that the Company is in the final stages of negotiations with International Banks for tying up an Overseas Bond Issue to raise USD 300 m to USD 500 m to meet the FCCB repayment obligations due in June and October this year. The sources confirmed that the Bond issue would be leveraged using the cash flows and assets of its International Business.