Printer Friendly

-Industrial Bank leads JinkoSolar's CNY300m bond issue.

BANKING AND CREDIT NEWS-April 24, 2012--Industrial Bank leads JinkoSolar's CNY300m bond issue(C)2012 M2 COMMUNICATIONS

24 April 2012 - Industrial Bank (SHA:601166) handled the bonds worth CNY300m (USD47.6m/EUR36.1m) issued by JinkoSolar Co Ltd on Monday, the parent of the Chinese solar product manufacturer JinkoSolar Holding Co Ltd (NYSE:JKS) said on Tuesday.

The Chinese lender acted as lead underwriter and bookrunner for the issue with standby commitment.

The company successfully sold unsecured short-term bonds that are due on 23 April 2013. The bonds' fixed annual interest rate of 6.3% is below the current benchmark one-year lending rate of 6.56%.

JinkoSolar has previously registered the bonds with the PRC National Association of Financial Market Institutional Investors. The company will use all funds raised through the offering for working capital.

JinkoSolar Co Ltd is a wholly owned subsidiary of JinkoSolar Holding Co Ltd, which is a vertically integrated solar power product manufacturer. Its cost-efficient operations are based in Jiangxi Province and Zhejiang Province in China. The company has sales and marketing offices in Shanghai, China, Munich, Germany, San Francisco, the US, Queensland, Australia, Ontario, Canada, Bologna, Italy, Montpellier, France and Zug, Switzerland. JinkoSolar's photovoltaic products, including silicon ingots, silicon wafers, solar cells and solar modules, are distributed around the world.

((Comments on this story may be sent to

COPYRIGHT 2012 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 Banking & Credit News (BCN)
Date:Apr 24, 2012
Previous Article:-First Federal Bank finalises acquisition of branches from Liberty Savings Bank.
Next Article:-Deutsche Bank, Nomura, RBS, Santander lead UK's Debt Management Office debt re-opening.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters