BAODING, China, May 3, 2012 /PRNewswire-Asia-FirstCall/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers, which markets its products under the brand " Yingli Solar," announced today that one of its primary operating subsidiaries, Yingli Energy (China) Company Limited (" Yingli China"), has successfully completed its issuance of 1.5 billion RMB-denominated unsecured medium-term notes (the "Issuance").
The Issuance is composed of
300 million RMB-denominated five-year medium-term notes (the "Five-year Notes") and
1.2 billion RMB-denominated three-year medium-term notes (the "Three-year Notes"). The Five-year Notes bear a fixed annual interest rate of 6.01% and will mature on
May 3, 2017. The Three-year Notes bear a fixed annual interest rate of 5.78% and will mature on
May 3, 2015.
China Development Bank ("CDB") acted as the lead underwriter and book runner for the Issuance with standby commitment. 60% of the proceeds will be used to enhance Yingli China's working capital, and the remaining 40% will be used to repay bank loans of higher interest rates.
"We have achieved tremendous success in the issuance of the medium-term notes through working closely with CDB. This successful issuance demonstrates not only investors' strong confidence in the long-term growth potential of the PV industry and Yingli's industry leadership, but also CDB's recognition of Yingli's proven track record and solid market position," commented Mr. Bryan Li, Director and Chief Financial Officer of Yingli Green Energy.
Relevant legal documentation, including the offering circular and issuance announcement of the offering are published on the websites of China Foreign Exchange Trade System (
http://www.chinamoney.com.cn) and China Central Depository & Clearing Co., Ltd. (
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV