Canadian Solar unit secures ¥4.7 billion loan with bank syndicate

By Lisa Kerner

Charlotte, N.C., Feb. 1 – Canadian Solar Inc.’s wholly owned subsidiary Canadian Solar Japan K.K. entered into a syndicated loan agreement with Mizuho Bank, Ltd., Shoko Chukin Bank and Tokyo Star Bank for ¥4.7 billion.

The financing will support Canadian Solar Japan’s working capital and business operations, according to a news release.

The loan has a one-year term and an option for a one-year extension.

Mizuho Bank is the bookrunner.

Canadian Solar is a solar power company based in Guelph, Ont.

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