LDK Solar enters into finance agreement with CDB for up to RMB 60 billion

Under terms of the agreement, CDB will provide credit facilities to LDK Solar over a five-year period. LDK has said the financings will support its long-term growth initiatives and corporate development plans.

Terms of the individual credit facilities and lending agreements are said to be subject to CDBÂ’s internal risk management requirements and operational regulations.

"We are very pleased to enter into this strategic financing agreement with CDB which demonstrates their confidence in and support of LDK Solar," stated Xiaofeng Peng, chairman and CEO of LDK Solar.

"Through our strong partnership with CDB, we will have an enhanced ability to pursue our long-term growth strategy and further strengthen our position within the PV industry market."