By SeeNews Renewables —Yingli Green Energy (NYSE:YGE) and bondholders are discussing options for the repayment of CNY 1.4 billion (USD 213m/EUR 195m) of notes maturing in May, Bloomberg said, citing the Chinese company’s finance head.
Chief financial officer Wang Yiyu told the news agency on Thursday that Yingli intends to sell solar power plants and other assets, and speed up cash flows into the company.
In the autumn of 2015, subsidiary Baoding Tianwei Yingli New Energy Co Ltd failed to repay in full USD 157 million of mid-term notes due on October 13. It has paid back roughly 70% and Yingli said in December it is “exploring various measures for repayment” of the remainder before October 2016. The solar energy company said at the time it was also working on a number of financing options to continue to manage its liquidity and to enhance its financial flexibility.
Wang told Bloomberg that Yingli’s total debt due in 2016 will be less than in 2015.
SeeNews Renewables
SeeNews Renewables goes beyond the familiar renewable markets of Western Europe and the US to encompass the potential of BRIC counties and emerging investment destinations in North Africa, the Asia Pacific, Central and Eastern Europe. SeeNews Renewables is covering all renewable energy sources: wind, solar, hydropower, biomass, geothermal and marine energy.
Comments