The Issuance is composed of 300 million RMB-denominated five-year medium-term notes (the "Five-year Notes") and 1.2 billion RMB-denominated three-year medium-term notes (the "Three-year Notes"). The Five-year Notes bear a fixed annual interest rate of 6.01 percent and will mature on May 3, 2017. The Three-year Notes bear a fixed annual interest rate of 5.78 percent and will mature on May 3, 2015.
China Development Bank ("CDB") acted as the lead underwriter and book runner for the Issuance with standby commitment. 60 percent of the proceeds will be used to enhance Yingli China's working capital, and the remaining 40 percent will be used to repay bank loans of higher interest rates.
"We have achieved tremendous success in the issuance of the medium-term notes through working closely with CDB. This successful issuance demonstrates not only investors' strong confidence in the long-term growth potential of the PV industry and Yingli's industry leadership, but also CDB's recognition of Yingli's proven track record and solid market position," commented Mr. Bryan Li, Director and Chief Financial Officer of Yingli Green Energy.
Relevant legal documentation, including the offering circular and issuance announcement of the offering are published on the websites of China Foreign Exchange Trade System (http://www.chinamoney.com.cn) and China Central Depository & Clearing Co., Ltd. (http://www.chinabond.com.cn).
