July 27 (Reuters) - India's Suzlon Energy Ltd, the
world's fifth-largest wind turbine maker, said on Friday it had
redeemed its $360 million of foreign currency convertible bonds
through various instruments.
Last month, the wind turbine maker said it was in talks with
banks to raise $300 million to repay bondholders who had agreed
to extend the deadline by 45 days to July 27.
The delay in raising funds for repayment had worried
investors, causing an erosion of more than a fifth of Suzlon's
market value in the last three months.
Suzlon said it used $300 million in new loans and the
balance was met through internal accruals and the sale of
It has been under pressure for the last few years as global
turbine sales slow and its huge borrowings for expansion started
(Reporting by Swati Pandey in Mumbai; Editing by David Holmes)