By Toni Weeks
San Diego, May 3 - Yingli Green Energy Holding Co. Ltd. said that one of its primary operating subsidiaries, Yingli Energy (China) Co. Ltd., completed an issuance of RMB 1.5 billion medium-term notes on Thursday, according to a news release.
The deal consists of RMB 300 million 6.01% medium-term notes due May 3, 2017 and RMB 1.2 billion 5.78% medium-term notes due May 3, 2015.
China Development Bank was the bookrunner.
About 60% of the proceeds will be used for working capital, and the remaining 40% will be used to repay bank loans that have higher interest rates.
"We have achieved tremendous success in the issuance of the medium-term notes through working closely with CDB," director and chief financial officer Bryan Li said in the release. "This successful issuance demonstrates not only investors' strong confidence in the long-term growth potential of the PV industry and Yingli's industry leadership but also SDB's recognition of Yingli's proven track record and solid market position."
Yingli Green is a solar energy company based in Baoding, China.
| Issuer: | Yingli Energy (China) Co. Ltd.
|
| Issue: | Medium-term notes
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| Amount: | RMB 1.5 billion
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| Bookrunner: | China Development Bank
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| Settlement date: | May 3
|
|
|
| Three-year notes
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| Amount: | RMB 1.2 billion
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| Maturity: | May 3, 2015
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| Coupon: | 5.78%
|
|
|
| Five-year notes
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| Amount: | RMB 300 million
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| Maturity: | May 3, 2017
|
| Coupon: | 6.01%
|
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