Ropes & Gray Team in Hong Kong and London Advises on Restructuring of Bonds Issued by Suzlon Energy
Ropes & Gray represented an ad hoc committee of bondholders for Suzlon Energy Ltd., an Indian wind-turbine maker, in the restructuring of approximately $580 million foreign currency convertible bonds (FCCBs). The restructuring was approved by bondholders on July 9, as announced by the company. Suzlon defaulted on the FCCBs, which consisted of four different issuances of bonds, in October 2012. The deal was led by Ropes & Gray special situations partner Daniel Anderson (Hong Kong).