JinkoSolar announced that JinkoSolar Japan K.K. (JinkoSolar Japan), a subsidiary of the Company, has signed a JPY4.1 billion syndicated loan agreement up to two years with a bank consortium led by Sumitomo Mitsui Banking Corporation (SMBC). The financing will be used to support strong shipments growth in Japan and to supplement JinkoSolar Japan's working capital.
"I am pleased to have the opportunity to work with SMBC again in increasing our line of credit. As one of the largest commercial banks in Japan, SMBC upholds the highest standards and thoroughly evaluates the financial position of each company applying for a loan," commented Mr. Charlie Cao, JinkoSolar's Chief Financial Officer. "I believe this loan agreement demonstrates the trust and recognition of a respected financial institution in JinkoSolar's brand, business scale, operations and financial position. We look forward to working closely with SMBC and other local banks to further expand our business in Japan."