Yingli Green unit signs credit agreement for a three-year loan facility with ADM Capital - Quick Facts

Yingli Green Energy Holding Co. Ltd. (YGE) announced that one of its wholly owned subsidiaries has entered into a credit agreement for a three-year loan facility with a fund managed by Asia Debt Management Hong Kong Ltd., or ADM Capital, to secure additional financing for its business expansion.

Pursuant to a credit agreement entered into between Yingli Energy (China) Co. Ltd., a wholly owned subsidiary, as the borrower, and ADM Capital, as the lender, ADM Capital has agreed to provide a three-year loan facility of up to US$80.0 million to Yingli China for its production capacity expansion and general corporate use.

The loan will accrue interest of 12% per annum and is expected to be available for drawdown in one lump sum at any time up to 85 days from the date of the agreement, subject to the obtaining of certain governmental approvals and satisfaction of other customary closing conditions.

As per the terms of the agreement, the lenders may also require Yingli China to prepay the loan in part or in full if Yingli Green Energy fails to meet certain agreed consolidated operating and financial targets.

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