MUMBAI (Reuters) - India's Suzlon Energy (NSI: SUZLON.NS - News ), the world's fifth largest breeze turbine maker, expects to tie up $300 million in loans from banks by the finish of June for repaying its abroad bondholders, a comparison firm authorized mentioned on Monday.
"We are in modernized theatre (of talks with banks) ... We will be in a location to shut things this month," mentioned Kirti Vagadia, arch financial officer.
Earlier this month, Suzlon got consent from its unfamiliar banking bondholders to defer settlement of $360 million by 45 days to July 27, that gave the firm more time to elevate uninformed debt from about 20 banks.
Suzlon's unfamiliar banking holds sappy this year have conversion prices of 76.68 rupees and 97.26 rupees per share, good on top of its stream share cost of 17.90 rupees, creation them unappealing for bondholders to modify in to shares.
It has to pay back other $209 million of holds in October.
Shares of Suzlon, that has a marketplace capitalisation of about $550 million, rose as ample as 4.3 percent and at 01:56 p.m. (08:26 GMT) were trade up 2.87 percent at 17.90 rupees in a Mumbai marketplace that was aloft 0.69 percent.
(Reporting by Ketan Bondre; Editing by Ranjit Gangadharan and Prateek Chatterjee)