Suzlon Energy offers to repay $1.2 bn for stressed debt settlement: Report

Suzlon shares rose as much as 14% in early Mumbai trading on Friday, the biggest intraday gain in two weeks

India’s troubled wind-turbine maker Suzlon Energy Ltd. offered to repay about 85 billion rupees ($1.2 billion) to lenders as part of a bad-debt resolution plan, people with knowledge of the matter said.

Creditors led by State Bank of India will have to take a haircut of as much as 44% on Suzlon’s debt if the offer is accepted, the people said, asking not to be named as the information isn’t public. The settlement plan backed by Vestas Wind Systems A/C is the only bid in front of lenders after Brookfield Asset Management Inc. dropped out of the race, one of the