By Mary-Katherine Stinson
Lexington, Ky., April 25 – JinkoSolar Holding Co., Ltd. announced that majority-owned principal operating subsidiary Jinko Solar Co., Ltd. (Jiangxi Jinko) issued RMB 10 billion of convertible bonds on the Shanghai Stock Exchange’s Sci-Tech Innovation Board, according to a press release.
As previously reported, the bonds have a term of six years and will be convertible into Jiangxi Jinko’s ordinary shares.
Proceeds will be used for the construction and development of some solar cell and module production projects by Jiangxi Jinko and for working capital, according to an earlier notice..
JinkoSolar currently owns a 58.62% equity interest in Jiangxi Jinko and had special preemptive rights to subscribe for a portion of the convertible bonds subject to a six-month lock-up period. The company subscribed to bonds totaling RMB 5.5 billion.
The solar module manufacturer is based in Shangrao, China.
| Issuer: | Jinko Solar Co., Ltd.
|
| Amount: | RMB 10 billion
|
| Issue: | Convertible bonds
|
| Tenor: | Six years
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
