Suzlon Energy rallied as much as 9% to touch an intraday high of INR 19.60 on December 28th Friday as the lenders will meet to discuss CDR package.
According to the reported, the lenders to debt ridden Suzlon will meet on Friday to discuss its corporate debt restructuring package.
The report said that "Though Suzlon's INR 11,000 crore debt has been admitted into the CDR cell, the company's recast package has not yet been approved by the lenders. Over the last few weeks the monitoring committee or the largest lenders to Suzlon, including SBI and IDBI Bank, have been meeting to thrash out the finer details of the package. This will now be presented to the rest of the consortium on Friday."
Source:
http://www.steelguru.com/indian_news/Suzlon_surges_9pct_ahead_of_lenders_meet_on_CDR_package/296790.html
