The stock of Suzlon Energy would be in renewed focus as bondholders are meeting on Monday to decide on time extension, as sought by the company. Suzlon's $200-million zero coupon convertible bonds and $35-million 7.5-per cent FCCBs are due in June. It will now seek extension up to July 27. Suzlon on May 19 said it expects to raise as much as $300-million term loan by next month in time to pay bondholders. It had asked bondholders for a 45-day extension in case of procedural delays. In an interview recently to Bloomberg, Mr Kirti Vagadia, CFO of Suzlon, said that the company is in “very very advanced stage of discussions” regarding a $300 million loan. Suzlon is under pressure to boost orders and generate cash in order to meet debt repayments. In March, HSBC Holdings Plc estimated that Suzlon had $700 million in bond and loan obligations maturing in the next 12 months and an estimated cash balance of Rs 750 crore. Any positive announcement on debt will act as booster for the stock.

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