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debt restructure

GCL nears resolution of its $500m senior notes headache

The Chinese poly maker expects to sign off a debt reorganization plan in Bermuda next month and has announced its latest $102 million solar project sell-off.

GCL confirms thumping annual loss for 2020

The polysilicon maker lurched from a $17m profit in 2019 to a $960 million loss last year, according to an unaudited extract from its overdue annual figures. Publication is being held up by an auditor enquiry relating to a $71m abandoned-production-project pre-payment which appears to be either owed by, or to, a GCL subsidiary.

GCL-Poly cross defaults over unpaid $500m senior notes

Creditors refused to postpone payment of the three-year notes for another 36-month term and now face receiving less than 5% of the amount due once a proposed debt restructure is completed, with the balance kept back until January 2024 regardless.

GCL on verge of cross default over $500m senior notes

The polysilicon manufacturer yesterday extended the deadline for postponing settlement of the investments until Friday – with the notes set to expire on Saturday.

Italian solar company changes hands

The operations and maintenance and the engineering, procurement and construction arms of PV company Enerray have been sold off by troubled industrial conglomerate Gruppo Industriale Maccaferri for cash, transferring 240 MWp of Italian generation capacity to the management of rival LT Renewables.

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Panda Green opened another $150m of state-owned credit lines

The debt-saddled developer secured $125 million on a three-year basis from China Construction Bank which will help towards the $271 million it owes investors by the end of July.

Panda Green settles $350m notes with hours to spare

The debt-saddled developer now has to hope its latest, $230 million state bail-out goes ahead before summer or it will be left $260 million in hock to its Beijing-owned main shareholder.

Panda Green showcases its full portfolio

The embattled developer today published what appears to be a sales pitch as it seeks urgent investors ahead of an eight-day debt deadline.

State-owned entity delays Panda Green bail-out in wake of debt restructure setback

Panda Green today said delays acquiring the necessary approvals were responsible for holding up its critical HK$1.79 billion lifeline but the deadline for completion had originally been put back to coincide with publication of the results of a debt restructuring proposal which ultimately tempted less than a third of note holders.

Panda Green’s hopes of postponing debt are dashed

The heavily-indebted, Chinese state-owned solar project developer now has ten days to rustle up $242 million after a debt restructuring proposal was accepted by less than a third of its creditors.

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