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NEW YORK - Solar-cell maker Yingli Green Energy Holding Co. Ltd. on Monday said it made adjustments to its capital structure by securing two credit facilities, paying off debt ahead of schedule and issuing a second tranche of senior notes.
Yingli Green Energy International Trading Ltd., a subsidiary of the China-based company, received a two-year credit facility of $100 million from Bank of Communications. Tianwei Yingli, an operating subsidiary of the company, also received a one-year renewal credit facility valued at $300 million Renminbi ($43.9 million).
Another subsidiary of the company, Yingli Energy Co. Ltd., made an early repayment of the full principal amount of $50 million, along with accrued interest and fees, under the previously announced three-year loan facility with ADM Capital, the company said.
Finally, Yingli Green Energy said it issued the second tranche of senior secured convertible notes due 2012 valued at about $29.4 million to Trustbridge Partners II, LP, with plans to use proceeds for general corporate purposes.
Shares of the company fell 60 cents, or 4.3 percent, to $13.26 in premarket trading.
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