China’s Trina Solar Raises $239 Million With Debt, SharesJustin Doom
Trina Solar Ltd., 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.