LDK Solar Wins 30-Day Extension on Overdue Interest Payments

LDK Solar Co., China’s second-biggest maker of solar wafers, said it won agreement from noteholders for a 30-day reprieve from having to pay interest that was due Aug. 28.

The extension arrangement for payments owed on the company’s 2014 securities will expire on Nov. 26, the company said today in a statement on its website. LDK Solar said Sidley Austin LLP is acting as counsel.

The company, based in Xinyu, China, said last month it delayed $13 million of interest payments on the notes. It has hired Jefferies Group LLC to advise on its offshore debt obligations.