Trina Solar (TSL) Gets $57 Million Worth Of New Credit

Posted by Tate Dwinnell | # |
09:09:31 am on June 29, 2009

Trina Solar just announced that it received $57 million worth of new credit facilities from China’s Standard Chartered Bank. The funding will help the company buy more raw materials and provide a buffer against foreign exchange risks. This brings Trina Solar’s total available credit up to $520 million from approximately $460 million.

In a company press release, Terry Wang, Trina Solar’s CFO, commented on the news:

“The credit facilities offer us greater flexibility to strengthen our cash flow position to further enhance our capital resources. We are very pleased to work with Standard Chartered, a well-known international bank with extensive experience and presence in China. Our strategic collaboration with Standard Chartered confirms Trina Solar’s financial strength and ability to secure funding in a challenging economic environment.”

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