Canadian Solar subsidiary CSI Solar Power (China) has completed the initial issuance of RMB400m ($60m) commercial paper to raise funds to repay debt and enhance working capital.
The commercial paper has a one-year tenor and a fixed interest rate of 5.5%, the solar developer said.
China CITIC Bank acted as the underwriter and book runner of the issuance, it added.
Canadian Solar chairman and chief executive Shawn Qu said: “We are delighted to complete our first issuance of commercial paper in the Chinese capital market, further expanding our financing options.”
Image: Canadian Solar
