BAODING, China — Yingli’s holding subsidiary, Baoding Tianwei Yingli New Energy Company Limited (“Tianwei Yingli”), has substantially repaid the Mid-Term Notes (“MTNs”), which was previously restructured to be paid by the end of 2015.
Approximately 70% of the MTNs including interest totaling $110 million USD (700 million RMB) were repaid from the liquidation of idle land and demolition of facilities held by Fine Silicon, one of the Company’s wholly-owned subsidiaries.
The MTNs were issued by Tianwei Yingli in October, 2010 as five-year unsecured notes totaling $157 million USD (1.0 billion RMB). The Company continues to work closely with the MTNs holders for repayment of the remaining portion of MTNs and expects such remaining portion to be repaid within one year.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known as “Yingli Solar,” is one of the world’s leading solar panel manufacturers. Yingli Green Energy’s manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and solar panel assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 30 regional subsidiaries and branch offices and has distributed more than 14 GW solar panels to customers worldwide.