• Suntech Showcases Signature So... 2017-09-12 Suntech Showcases Signature Solar Modules at the 2017 Solar Power International in Las Vegas LAS VEGAS, Sept. 12, 2017 -- Wuxi Suntech Power Co., Ltd. ("Suntech") annouce today that it is participating as a main exhibitor at the 2017 Solar Power International (SPI 2017) held in Las Vegas. Opened on September 10, SPI is North America's premierbusiness-to-business event which is for all professionals in the solar energy and other related fields. More than 18,000 solar energy industry profes...

Shunfeng $361 Million Bond Offer to Fund Solar Projects

Posted on 2014-11-01
Shunfeng Photovoltaic International Ltd. (1165), the Hong Kong-based solar company controlled by billionaire Zheng Jianming, plans to raise HK$2.8 billion ($361 million) through a pair of convertible bond offerings.

 

The company will offer HK$2.1 billion to independent third parties and HK$700 million to Peace Link Services Ltd., a company owned by Zheng, according to a filing yesterday with the Hong Kong Stock Exchange.

 

Both offerings mature in three years and carry an interest rate of 5 percent. They have an initial conversion price of HK$7 a share, a premium of 1.89 percent over yesterday's closing price.

 

Shunfeng will use the proceeds for solar projects it's building, mainly in China, and to develop new business and for acquisitions. The company has set a goal of having 10 gigawatts of grid-connected solar plants by the end of 2016.

 

When these bonds, and other convertible notes issued over the past two years, are redeemed, Peace Link's stake in Shunfeng will increase to 60.63 percent, from about 26 percent now. Peace Link is wholly owned by Zheng, who was added to the Forbes billionaires list Oct. 27.

 

(Reference:Bloomberg)
© Copyright: Wuxi Suntech Power Co., Ltd. All rights reserved. Design By Panasia Information.