Canadian Solar Japan has entered into a syndicated loan agreement with three Japanese banks to provide a total of $39.5m to support its working capital and business operations.
Mizuho Bank, acting as the book-runner, together with Shoko Chukin Bank and Tokyo Star Bank, will provide the loan, which has a one-year term with an option for one-year extension.
Canadian Solar chairman and chief executive officer Shawn Qu (pictured) said: “We are delighted to partner with this leading group of lenders, which enables us to execute on our business strategy and capture the growing business opportunities in Japan.
“This partnership once again demonstrates Canadian Solar’s strength and recognition as the global tier-One leader that is able to get local financing from large banks in Japan.
“We look forward to continuing the cooperation with Mizuho Bank.”
Image: Canadian Solar
Canadian Solar seals $39.5m in Japan
Three banks to provide PV developer's Japanese arm with working capital
By EBS