China Development Bank Loans $11.72B To Trina (TSL) And Suntech (STP)

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08:54:00 am on April 14, 2010

Trina Solar and Suntech Power Holdings have taken a combined $11.72 billion in loans from China Development Bank, according to Reuters. Suntech’s agreement with CDB  will provide access to $7.33 billion in loans over a 5-year period. Trina Solar now has a loan agreement with CDB worth $4.40 billion that will last through 2015.

Both companies plan to use the loans for expansion.

For example, Trina Chief Financial Officer Terry Wang told Reuters,

“As we accelerate global reach to Europe and the U.S. and as we widen our base among top markets, we could use the loan for market expansion. We’re looking at projects overseas.”

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===> Click Here For Your FREE Trina Solar Analysis

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