Ad Hoc Group, Other Supporting Suntech Power Holdings Co. Noteholders Sign Forbearance Agreement With Suntech Business Wire NEW YORK -- March 15, 2013 Bingham McCutchen LLP and Duff & Phelps Securities, LLC represent an ad hoc group of holders (the “Ad Hoc Group”) of the Convertible Senior Notes (the "Notes") issued by Suntech Power Holdings Co., Ltd (“Suntech”). The Notes are due on March 15, 2013 (“Maturity”), and the Ad Hoc Group has been engaged in discussions with Suntech and other parties for several months regarding the Maturity and other matters. In order to continue those discussions, the Ad Hoc Group and other supporting noteholders, who together hold more than 63% of the Notes, have signed a forbearance agreement with Suntech, agreeing, among other things, to forbear from exercising certain rights and remedies concerning the Maturity until May 15th. The Ad Hoc Group’s advisors are in regular discussion with Suntech, its advisors, and parties onshore in the PRC. The Ad Hoc Group believes that a consensual restructuring is attainable that will maximize recoveries for all noteholders. Bingham McCutchen and Duff & Phelps encourage all holders of the Notes, large and small, to contact us as indicated below to discuss the situation. The foregoing shall not be construed as tax, legal, business, financial, accounting or other advice, and holders of the Notes are encouraged to consult their own advisors. Sincerely, Bingham McCutchen LLP Mark Fucci +(852) 3182-1778 email@example.com Ronald Silverman (212) 705-7868 firstname.lastname@example.org Duff & Phelps Securities, LLC Brian Cullen (424) 249-1650 email@example.com Matthew Gates (424) 249-1650 firstname.lastname@example.org Contact: Bingham McCutchen LLP Mark Fucci, +(852) 3182-1778 email@example.com or Ronald Silverman, 212-705-7868 firstname.lastname@example.org or Duff & Phelps Securities, LLC Brian Cullen, 424-249-1650 email@example.com or Matthew Gates, 424-249-1650 firstname.lastname@example.org
Ad Hoc Group, Other Supporting Suntech Power Holdings Co. Noteholders Sign Forbearance Agreement With Suntech
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