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LDK Solar Closes Offering of RMB 1.2 Billion US$-Settled Senior Notes due 2014

published: 2011-03-01 15:27

LDK Solar Co., Ltd. (NYSE: LDK) ("LDK Solar"), a vertically integrated manufacturer of photovoltaic products and a leading manufacturer of solar wafers in terms of capacity, announced today the closing of US$-settled 10.00% senior notes due 2014 in the aggregate principal amount of RMB 1.2 billion (the "Notes") being offered and sold outside the United States pursuant to Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act").

The Notes will bear interest at the rate of 10.00% per annum from February 28, 2011, payable semi-annually in arrears on February 28 and August 28 of each year, beginning on August 28, 2011. The Notes will mature on February 28, 2014 and will be guaranteed by certain of LDK Solar's offshore subsidiaries. LDK Solar intends to use the net proceeds of the offering to repay certain of its existing indebtedness with remaining maturities of up to one year.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities. Any offers of the securities must be made only by means of a private offering memorandum. The Notes and the related guarantees have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.


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