Suzlon seeks to extend Oct bond maturity

Suzlon Energy, the world's fifth-largest wind turbine maker, said on Tuesday it plans to meet with bondholders on Oct 10 to seek approval to extend the maturity of its convertible bonds due next month.

The company, which had issued $200 million of zero-coupon convertible bonds and another $20.8 million worth of bonds with a coupon of 7.5 percent, is seeking to extend the maturity to Feb 11, 2013, from Oct 11, it said in a statement to the stock exchanges.

Suzlon said it was working to arrange funds from various sources including from the sale of "non-critical" assets and raising fresh debt to repay the bondholders.