JKS - JinkoSolar's subsidiary to raise RMB10B in convertible bonds issuance

• JinkoSolar ( NYSE: JKS ) announced that its majority-owned principal operating subsidiary plans to issue convertible bonds in principal amount of up to RMB10B.
• 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 shares.
• Net proceeds to be used for construction and development of certain solar cell and module production projects by Jiangxi Jinko and working capital for Jiangxi Jinko.
• Currently, the company owns ~58.62% equity interest in Jiangxi Jinko and has special preemptive rights to subscribe for a portion of the convertible bonds.
• Shares trading 3.7% higher premarket.

For further details see: