Monday, July 11, 2011

JinkoSolar Announces Registration and Issuance of One-Year Short-Term Financing Bonds of RMB400 Million

SHANGHAI, July 11, 2011 /PRNewswire-Asia-FirstCall/ -- JinkoSolar Holding Co., Ltd. (NYSE: JKS) ("JinkoSolar" or the "Company"), a fast-growing vertically integrated solar product manufacturer with low-cost operations based in China, announced today that Jinko Solar Co., Ltd. ("Jiangxi Jinko"), one of the Company's wholly owned subsidiaries, has successfully registered and issued unsecured one-year short-term bonds with an aggregate principal amount of RMB400 million (the "Registered Issue") with the PRC National Association of Financial Market Institutional Investors ("NAFMII"). 

The Registered Issue was issued on July 8, 2011, and will mature on July 11, 2012. The Registered Issue bears a fixed annual interest rate of 6.5%, which is lower than the current benchmark one-year lending rate.

Industrial Bank Co., Ltd. acted as the lead underwriter and bookrunner for the Registered Issue with standby commitment. Approximately 75% of the proceeds will be used as working capital, and the remaining 25% will be used to repay bank loans of higher interest rates.

Relevant legal documentation, including the offering circular and issuance announcement of the Registered Issue, is published on the websites of ChinaMoney (http://www.chinamoney.com.cn) and ChinaBond (http://www.chinabond.com.cn).

No comments:

Post a Comment