Apr. 25, 2012 (China Knowledge) - New York-listed Yingli Green Energy Holding Co Ltd<YGE>, one of the world's largest vertically integrated photovoltaic product manufacturers in China
, has announced plans to issue RMB 1.5 billion worth of debts on the interbank market on May 2.
The to-be-issued bonds comprise of RMB 750 million of five-year bonds and RMB 750 million of three-year bonds. Coupon rate will be determined in the process of bookbuilding. Both value date and payment due date is set on May 3, and the to-be-issued notes tradable on May 4.
Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer. China
Chengxin International Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively. China
Development Bank has been assigned as the lead underwriter and bookrunner.
This will be the issuer's first bonds for this year.