Key Developments: Yingli Green Energy Holding Company Ltd (YGE.N)
12 Mar 2014
Latest Key Developments (Source: Significant Developments)
Yingli Green Energy Hold. Co. Ltd.'s Yingli Energy (China) Company Limited Completes Issuance of RMB1.5 Billion Medium Term Notes
Yingli Green Energy Hold. Co. Ltd. announced that one of its primary operating subsidiaries, Yingli Energy (China) Company Limited (Yingli China), has successfully completed its issuance of 1.5 billion RMB-denominated unsecured medium-term notes (the Issuance). The Issuance is composed of 300 million RMB-denominated five-year medium-term notes (the Five-year Notes) and 1.2 billion RMB-denominated three-year medium-term notes (the Three-year Notes). The Five-year Notes bear a fixed annual interest rate of 6.01% and will mature on May 3, 2017. The Three-year Notes bear a fixed annual interest rate of 5.78% and will mature on May 3, 2015. China Development Bank (CDB) acted as the lead underwriter and book runner for the Issuance with standby commitment. 60% of the proceeds will be used to enhance Yingli China's working capital, and the remaining 40% will be used to repay bank loans of higher interest rates. Full Article
March 4 - Chinese solar panel maker Yingli Green Energy Holding Co Ltd on Tuesday warned that it would miss its fourth-quarter gross margins forecast due to disposal of low-efficiency cell inventory and tax adjustments.