Suzlon Energy Ltd. on Tuesday said that its debt as on March 31, 2020, stood at Rs 14,262.06 crore, including outstanding foreign currency convertible bonds worth Rs 1,376.30 crore.
The company's total outstanding borrowing from banks or financial institutions is Rs 12,885.75 crore, the wind turbine maker stated in a regulatory filing, adding that its debt resolution plan has been approved by 100 percent of lenders by value and 100 percent of lenders by numbers.
Suzlon had on March 30 said that a State Bank of India-led consortium of lenders had approved a debt resolution plan unanimously. Similarly, in a meeting of bondholders in Singapore on April 6, the company got approval for resolution of outstanding $172 million-worth of bonds. The amount comes to around Rs 1,376.30 crore at exchange rate of Rs 75.67 per dollar.
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, standby letter of credit from the SBI-led consortium and Indian Renewable Energy Development Agency.
The first day of Suzlon's default was March 19, 2019.
The company's debt resolution plan is under the final implementation stage, it said.
On Tuesday, Suzlon shares rose 4.76 percent to Rs 2.20 apiece on the NSE while the benchmark Nifty 50 gained 8.76 percent to end the day at 8,792.20 points.
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