Chinese solar panel maker Yingle Green Energy Holding Company Limited (NYSE:YGE) has taken a loan of $50 million from a credit line established earlier this year with ADM Capital and the China Export-Import Bank. ADM Capital receives 4,125 warrants to purchase Yingli shares in five pieces, beginning April 7, 2009, at a price of $5.64/share. The warrants expire on April 30, 2012, and at that time Yingli must purchase all unexercised warrants at $7/warrant. Yingli gets to decide if it will pay cash or issue shares to make the payment.
The new credit line with the bank gives Yingli access to long-term credit lines up to an aggregate amount of 1 billion RMB (about $147 million at today’s exchange rate). The credit line will replace all of Yingli’s short-term lines already provided by the bank.
Yingli’s shares are up about 2%, to $7.50/share. The 52-week range is $2.50-$27.96.
Paul Ausick
April 16, 2009
Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
