Yingli unit registers CNY 2.4bn mid-term notes programme

(ADPnews) - Oct 14, 2010 - Chinese photovoltaic (PV) equipment maker Yingli Green Energy Holding Co (FRA:YG11) said yesterday its unit Baoding Tianwei Yingli New Energy Resources has registered with the regulator a CNY 2.4 billion (USD 360.2m/EUR 258m) issue of unsecured medium-term notes.

The registration with the Chinese National Association of Financial Market Institutional Investors enables Tianwei Yingli to issue five-year notes in two tranches on the Chinese inter-bank debenture market.

Tianwei Yingli has today placed the issue's first tranche of CNY 1 billion, the parent company said. The offered notes bear a coupon of 4.3% for the first three years and 5.7% for the next two years if Tianwei does not exercise its call option in 2013.

The proceeds will be used for working capital as well as debt repayments.

The second tranche of CNY 1.4 billion notes is scheduled for the second quarter of 2011, Yingli said. Details about the tranche will be announced upon the issue.

(CNY 1 = USD 0.150/EUR 0.107)

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