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Qingdao Investment

Debt-saddled Panda Green and Singyes wait on Chinese state-backed bailouts

With Singyes having already announced a plan to receive a cash injection and restructure its debt, fellow Hong Kong listed solar developer Panda Green today announced plans for a Beijing coal power company to ride to its rescue.

Shareholder vote on Panda Green debt repayment plan delayed

The indebted Chinese developer has put back plans to set a date for its huge shares issue scheme by three weeks. The company needs to raise HK$1 billion that is due for repayment by May but needs stock holders to agree to significantly dilute their stakes.

State-owned lenders will stump up cash to bail out developer Panda Green

With a $3bn debt pile, gearing of 73.1% and $127m due for repayment in around three months’ time, the directors of the former United PV Group want shareholders to dilute their investment by issuing shares worth more than 40% of an enlarged company, with a chunk of the proceeds coming from public funds.


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