LDK Solar enters new 30-day forbearance with 10% senior noteholders

By Caroline Salls

Pittsburgh, Dec. 10 - LDK Solar Co., Ltd. entered into a new 30-day forbearance arrangement with holders of a majority in principal amount of its dollar-settled 10% senior notes due 2014 in connection with a payment due on the notes on Aug. 28, according to a company news release.

The new forbearance arrangement expires on Jan. 9. A previous forbearance announced on Nov. 26 was scheduled to expire on Dec. 10.

As previously reported, LDK Solar hired Jefferies LLC as a financial adviser for strategic advice in connection with the notes and the company's other offshore obligations.

LDK Solar is a manufacturer of photovoltaic products based in Xinyu City, China.

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