LDK Solar closes 3-yr debt offering

LDK Solar closes 3-yr debt offering

(ADPnews) - Mar 1, 2011 - Chinese solar wafer maker LDK Solar (NYSE:LDK) said on Monday it had completed the offering of CNY 1.2 billion (USD 183m/EUR 132m) notes maturing on February 28, 2014.

The debt will be settled in US dollars and will bear a 10.00% interest rate, payable twice a year, on February 28 and on August 28 of each year, beginning from August.

The company said it would use the money raised from the notes sale to repay short-term debt.

(CNY 1.00 = USD 0.152/EUR 0.110)

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