China’s Trina Solar Raises $239 Million With Debt, Shares

Trina Solar Ltd. (TSL), China’s largest profitable panel manufacturer, netted about $239 million through offerings of debt and American depositary receipts.

Trina raised a net $146.3 million from selling convertible notes due in 2019, the Changzhou, China-based company said today in a statement.

Net proceeds from an offering of 8.8 million ADRs, each worth 50 ordinary shares, were approximately $92.9 million at $11 per ADR, the company said in a separate statement.

Trina rose less than 0.1 percent to $11.30 at the close in New York today and is down 17 percent this year.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Carlos Caminada, Robin Saponar

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