Suzlon is down in the red today, currently 5% down at Rs.25.30, its lower circuit. The stock opened itself weak, indicating the trend of the stock right since the morning.

The stock is down as traders get jittery over the outcome of its crucial meeting with its bond holders, scheduled for today. The agenda of the meet is to look into the company’s proposal to restructure its $485 million debt. The resolution requires a quorum, and more than 75 % of votes to pass.

Suzlon’s proposition is a new 5-year bond with 3.25% coupon rate in first 18 months and then 5.75% until maturity. These bonds could later be converted into equity shares at Rs.15.46/share. This proposal will be put to a vote by each series of bondholders in respective back-to-back meetings at the offices of law firm Linklaters LLP in London.

The deal could eliminate a potential threat of liquidation and prod Suzlon toward recovery after four straight years of losses.