Hong Kong

Date set for Panda Green state bail-out vote

The Hong Kong-listed, Chinese state-owned solar developer is in a race against time to settle a US$350 million bond which is due to mature on January 25. The bail-out, which will be put to the vote on December 30, will leave the company a further US$125 million shy.

Singyes set for name change

Now Chinese state-owned, the developer appears to want to draw a line under a traumatic two-year period which saw its fortunes reversed in dramatic fashion. Effectively now part of China’s Shuifa construction conglomerate, the proposed new name is intended to reflect the fact.

Walking on sunshine

Chinese scientists have developed a PV floor tile they say is suitable for pavements and cycling tracks. The devices were tested on a ‘green deck’ in Hong Kong. The developers say the tiles have demonstrated satisfactory solar energy conversion, anti-slip performance, heat-resistance and strength.

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Singyes creditors approve rescheduling of defaulted notes and bonds

There was unanimous approval at a vote on the debt reorganization plan put before creditors in Hong Kong today and now it remains only for the scheme to be rubber-stamped in the territory – and in Bermuda – before the task of rebuilding the soon-to-be-state-owned business can begin.

Panda Green shareholders to vote on latest $225m state bail-out plan

It is back to the meeting room for beleaguered shareholders in the debt-saddled solar project developer, ahead of a proposed shares purchase by a Chinese coal and real estate company.

China walks away from state bail-out of GCL solar project business

The proposed acquisition of a controlling stake in the heavily-indebted PV project business of solar manufacturer GCL-Poly has fallen through, with state-owned China Hua Neng now proposing to cherry-pick the more attractive assets from the unit’s 7 GW portfolio.

Singyes averts winding-up petition by settling with Deutsche Bank

The Chinese solar manufacturer will pay the lender an undisclosed sum if its creditors vote, as expected, to back a debt reorganization scheme which will, in turn, unlock a state bail-out of the company by Beijing.

Singyes shareholders approve China bail-out

The margin of support for the proposed $198 million takeover by a Beijing entity came as no surprise and the deal now hinges on the holders of $430 million of defaulted debts supporting a delayed settlement of their claims. First up, though, is a date with a winding-up petition on Monday.

Yingli in talks with creditors over break up

The Chinese solar manufacturer today admitted it is in talks with its lenders and strategic investors about a break up of the company after its 2018 annual accounts revealed an apparently unserviceable debt pile. Any strategic investor is likely to constitute a Chinese state-backed bail-out.

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Singyes winding-up petition adjourned until November

The latest date for hearing the petition will fall just four days after shareholders vote on a proposed Chinese state-backed HK$1.55 billion bail-out of the business.

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