PVTIME – JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, announced on July 28 that Jinko Solar Co., Ltd. (“Jiangxi Jinko“), its majority-owned principal operating subsidiary, intends to issue convertible bonds (the “Convertible Bonds“) in the principal amount of up to RMB10 billion (the “Convertible Bond Issuance“). The Convertible Bonds, which will be listed on the Shanghai Stock Exchange’s Sci-Tech Innovation Board, have a term of six years and are convertible into Jiangxi Jinko’s ordinary shares. The net proceeds from the Convertible Bond Issuance will be used for (i) construction and development of certain solar cell and module production projects by Jiangxi Jinko, and (ii) working capital for Jiangxi Jinko.
The completion of the proposed Convertible Bond Issuance is subject to the review process by the Shanghai Stock Exchange and the registration process by the China Securities Regulatory Commission.
The Company currently owns approximately 58.62% equity interest in Jiangxi Jinko and has special preemptive rights to subscribe for a portion of the Convertible Bonds.
 (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, announced on July 28 that…){kind=link}