? SHANGHAI, March 24, 2011 /PRNewswire via COMTEX/ -- JinkoSolar Holding Co., Ltd. (NYSE: JKS) ("JinkoSolar" or the "Company"), a fast-growing vertically integrated solar product manufacturer with low-cost operations based in China, announced today that Jinko Solar Co., Ltd. ("Jiangxi Jinko"), one of the Company's wholly owned subsidiaries, successfully issued unsecured short-term bonds with a principal amount of RMB300 million (the "Second Tranche Issue") pursuant to its plan to issue unsecured one-year short-term bonds with an aggregate principal amount of RMB600 million (the "Registered Issue") with the PRC National Association of Financial Market Institutional Investors ("NAFMII"), which was previously announced on January 13, 2011. The Second Tranche Issue was issued on March 22, 2011, and will mature on March 23, 2012. The Second Tranche Issue bears a fixed annual interest rate of 5.6%, lower than the current benchmark one-year lending rate of 6.1%. The First Tranche with a principal amount of RMB300 million was issued on January 13, 2011. Industrial Bank acted as the lead underwriter and bookrunner for the Second Tranche Issue with standby commitment. Approximately 83% of the proceeds will be used as working capital, and the remaining 17% will be used to repay bank loans of higher interest rates. Relevant legal documentation, including the offering circular and issuance announcement of the Second Tranche Issue, are published on the websites of ChinaMoney (http://www.chinamoney.com.cn) and ChinaBond (http://www.chinabond.com.cn). Mr. Longgen Zhang, chief financial officer of JinkoSolar, commented, "We are pleased to issue the second tranche early in the year, locking down a promisingly favorable interest rate as we expect China's lending interest rate to continue to rise against inflation. The issuance of our short-term bonds further illustrates the market affirmation of our strong performance as well as investor's confidence in our ability to continue to deliver positive results in the year to come."
Legal Statement
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 11.5 GW for mono wafers, 10.6 GW for solar cells, and 16 GW for solar modules, as of December 31, 2019.
JinkoSolar has over 15,000 employees across its 7 productions facilities globally, 14 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United States, Mexico, Brazil, Chile and Australia, and global sales teams in China, United Kingdom, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi Arabia, Tunisia, Morocco, Kenya, South Africa, Costa Rica, Colombia, Panama, Kazakhstan, Malaysia, Myanmar, Sri Lanka, Thailand, Vietnam, Poland and Argentina.
To find out more, please see: www.jinkosolar.com
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
For investor and media inquiries, please contact:
In China:
Ms. Ripple Zhang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3105
Email: pr@jinkosolar.com
