JinkoSolar Holding Co. Ltd., a Chinese solar panel maker, completed sales of six-year bonds of 800 million yuan ($128 million) to fund its capital expenditure and working capital.
The bonds, which will mature on Jan. 29, 2019, were issued at a fixed annual interest rate of 8.99 percent, the company said today in a statement on its website.
At the end of the third year, its unit Jiangxi Jinko has the option to increase the interest rates by as many as 100 basis points. Bondholders have the right to ask the unit to buy all or part of their bonds upon the rate increase decision, according to the statement.
— With assistance by Feifei Shen