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Canadian Solar Inc prices concurrent offerings of 2,778,000 common shares and $130 mln convertible senior notes


Wednesday, 12 Feb 2014 07:02am EST 

Canadian Solar Inc:Prices the offering of 2,778,000 common shares of the Company, with no par value at $36 per common share.Says it also priced the concurrent offering of $130 mln in aggregate principal amount of 4.25 pct convertible senior notes due 2019.Says these offerings are expected to close on Feb. 18.Says the common shares offering was upsized from 2,600,000 common shares and the notes offering was upsized from an aggregate principal amount of $100 mln.Says the notes will be convertible into common shares at an initial conversion rate of 22.2222 common shares per $1,000 principal amount of the notes.Intends to use the net proceeds from these offerings for general corporate purposes, which may include expanding manufacturing capacity, the development of solar power projects and working capital.Says Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, and Nomura Securities International, Inc. are acting as joint book-running managers for the common shares offering.Says Roth Capital Partners and Northland Securities, Inc. are acting as co-managers for the common shares offering. 

Company Quote

30.0
0.74 +2.53%
9:41am EDT