Yingli Green Says It Probably Can't Repay Debts Due Thursday
- Chairman Liansheng Miao expects to negotiate deal with banks
- Yingli says it expects cash from disposing of land-use rights
This article is for subscribers only.
Yingli Green Energy Holding Co. Ltd. said it probably can’t repay 1.7 billion yuan ($260 million) of debt that matures on Thursday and that it’s in talks with creditors about refinancing.
Liansheng Miao, chairman and founder of the Chinese solar panel maker, said he expects to negotiate a “successful resolution” to Yingli’s woes. He has proposed bringing in new investors and creditors as well as selling assets. Yingli expects its shipments and margins to climb this year and at least 735 million yuan from disposing of land-use rights.