Yingli Green Energy (YGE) Signs Credit Agreement

Yingli Green Energy Holding Co Ltd announced that Yingli Energy (China) Co. Ltd, a wholly owned subsidiary, has signed an agreement for a three year loan facility with ADM Capital. The agreement will provide Yingli Green Energy with more capital to fuel its business growth.

RTT News has addition details on the terms of the loan:

ADM Capital has agreed to provide a three-year loan facility of up to US$80.0 million to Yingli China for its production capacity expansion and general corporate use.

The loan will accrue interest of 12% per annum and is expected to be available for drawdown in one lump sum at any time up to 85 days from the date of the agreement, subject to the obtaining of certain governmental approvals and satisfaction of other customary closing conditions.
As per the terms of the agreement, the lenders may also require Yingli China to prepay the loan in part or in full if Yingli Green Energy fails to meet certain agreed consolidated operating and financial targets.

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