Suzlon Energy

Suzlon Energy Ltd has informed that the Company on September 21, 2007 has launched and priced a proposed Foreign Currency Convertible Bonds ("FCCBs") issuance for an amount of US$ 200 million. Credit Suisse (Hong Kong) Ltd acted as the Sole Bookrunner to the transaction.

The FCCBs, which have a maturity of 5 years and 1 day, are convertible at a conversion price of Rs 1,859.40 per share (as adjusted from time to time), which is at a premium of 30% over the 5 day volume weighted average price (VWAP) of Rs 1,430.31 on the NSE on September 20, 2007. The FCCBs are zero coupon bonds with a yield to maturity of 7.55%, calculated on a semi-annual basis, at the end of 5 years and 1 day if not converted into shares during the period.

The FCCBs are expected to be listed on the Singapore Exchange Securities Trading Ltd.