http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/solar/jinkosolar-looks-to-raise-125m-in-debt-note-offering.html

Solar product manufacturer JinkoSolar has priced a debt note offering, seeking to raise $125m from institutional buyers.

The transaction is expected to close on 17 May, according to a company statement.
Buyers of convertible senior notes in the company, which are due to mature in 2016, will be able to convert them into American depositary shares, each representing four ordinary shares par value.
The initial conversion rate will be 29 American shares for every $1,000 of notes, equivalent to $33.75 per American share.
The starting conversion price represents a 22.5 per cent conversion premium over the last reported sale price of the company’s American shares on the New York Stock Exchange yesterday.
The notes are anticipated to accrue interest at an annual rate of four per cent, which will be payable in arrears.
The initial buyers in the offering will have a limited option to buy up to $25m in additional notes to cover any over-allotments, which will run for one month.
JinkoSolar will use a portion of the offering proceeds to pay for the expansion of its silicon wafer, solar cell and solar module production capacity and the repurchase of its ordinary shares.
It announced a $30m share repurchase plan earlier this week and committed to a transaction capped at 75 per cent above the prior price sale.
JinkoSolar distributes its photovoltaic products predominantly in Europe and the US.