Suzlon Energy Ltd, India's biggest fifth biggest turbine manufacturer, is in talks with its lenders to restructure its debt pile of Rs 14,000 crore.

The Tulsi Tanti-led company said on Monday that its proposal of the corporate debt restructuring (CDR) included maturity period of ten years, a 2-year moratorium on principal plus interest payments on term-debt along with additional working capital facilities.

Kirti Vagadia, CFO of Suzlon Group said in a statement, "The Company has, in consultation with its senior secured lenders, taken the decision to undertake a debt restructuring exercise under the CDR mechanism."

It means Suzlon won't be able to raise funds from international markets till it remains under CDR.

The announcement about the plan to restructure the debt was made after the cash-starved turbine maker defaulted on payments of $221 million to bond holders early this month.

The Pune-based firm has also suspended its guidance for fiscal year 2013. For the next fiscal year, the firm has estimated a revenue of between Rs 27,000 crore and Rs 28,000 crore, as against Rs 21,082 crore in the current fiscal year.

Stock in Suzlon Energy gained 2.3 per cent to close at Rs 15.85 a share on Bombay Stock Exchange (BSE) on Monday.