JinkoSolar Announces Issuance of Six-Year Bonds of RMB800 Million
SHANGHAI, Feb. 4, 2013
SHANGHAI, Feb. 4, 2013 /PRNewswire-FirstCall/ --JinkoSolar Holding Co., Ltd.
("JinkoSolar" or the "Company") (NYSE: JKS), a leading global solar power
product manufacturer, todayannounced that Jinko Solar Co., Ltd. ("Jiangxi
Jinko"), one of the Company's wholly owned subsidiaries, has successfully
completed the issuance of six-year bonds with a principal amount of RMB800
million. The bonds bear a fixed annual interest rate of 8.99% and will mature
onJanuary 29, 2019. The interest rate is based on current one year Shibor
(Shanghai Interbank Offered Rate) of 4.40% plus 459 basis points (4.59%).
At the end of the third year in the life of the bonds, Jiangxi Jinko has the
option to raise the interest rate by up to 100 basis points, and the
bondholders will have the right to require Jiangxi Jinko to repurchase all or
part of their bonds upon Jiangxi Jinko's announcement of whether or not it
decides to raise the interest rate, and by how much, at such time. The bonds
were approved by the Chinese National Development and Reform Commission's
("NDRC") Financial Division. Industrial Securities acted as the lead
underwriter and book runner for the bonds and the underwriters provided
standby commitment. The proceeds from the issuance of the bonds will be used
for capital expenditure and working capital purposes.
"We are extremely proud to be the first solar company approved to issue
corporate bonds in China this year," stated Mr. Kangping Chen, Chief Executive
Officer of JinkoSolar. "This round of fund raising reflects strong market
confidence in our long-term growth potential and sustainable business
JinkoSolar Holding Co., Ltd.(NYSE: JKS) is a leading global solar power
product manufacturer with production operations inJiangxiand Zhejiang
Provinces inChinaand sales and marketing offices inShanghaiandBeijing
China;Munich, Germany; Bologna,Italy;Montpellier,France;
Zug,Switzerland;San Francisco, U.S.; Queensland, Australia;Ontario,
JinkoSolarhas built a vertically integrated solar product value chain with an
integrated annual capacity of approximately 1.2 GW each for silicon wafers,
solar cells and solar modules as of September30, 2012.JinkoSolardistributes
its photovoltaic products to a diversified customer base in the global PV
market, including inGermany,Italy,Belgium,Spain,the United
States,France,Eastern Europe,China,Indiaand other countries and regions.
Safe Harbor Statement
This news release may contain forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as "anticipates," "believes,"
"estimates," "expects," "future," "intends," "plans," "will," and similar
statements. Such statements involve inherent risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements. Further information regarding these and other
risks is included in JinkoSolar's filings with the U.S. Securities and
Exchange Commission, including its annual report on Form 20-F. Except as
required by law, the Company does not undertake any obligation to update any
forward-looking statements, whether as a result of new information, future
events or otherwise.
For investor and media inquiries, please contact:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21 6061 1792
Mr. Christian Arnell
Tel: +86 10 5826 4939
In the U.S.:
Mr. Jeff Bloker
Tel: +1 480 614 3003
SOURCE JinkoSolar Holding Co., Ltd.
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