Trina Solar Limited announced that it has signed a contract with Kerself S.p.A. for the supply of photovoltaic panels for a total of 75 MW (Megawatt). According to the terms of the agreement, 23 MW will be delivered within the end of 2009, 25 MW will be delivered within the first quarter of 2010, and the remaining 25 MW will be delivered in the second quarter of 2010.
September 30, 2009
September 8, 2009
Five-year syndicated loan facility
Trina Solar announced that it has obtained a five-year syndicated loan facility to support its East Campus capacity expansion project. The size of the loan facility is approximately $304M, and the loan is denominated in both US dollars and Renminbi. The loan bears a floating interest rate consisting of a premium over LIBOR and the basic rate of the People's Bank of China for the respective US dollar and Renminbi portions of the loan. The lenders consist of a syndicate of five domestic banks led by the Agricultural Bank of China and Bank of China, and the loan will be used to finance the Company's 500 MW capacity expansion project to be completed over the next three years. The first drawdown is expected to occur in September in accordance with the schedule agreed upon with the lenders. The loan proceeds will be used to fund the Company's capital expenditure targets for the second half of 2009 and will also be immediately used to repay related outstanding loans of approximately $80M due on June 30, 2010. :theflyonthewall.com
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