On January 9, Canadian Solar announced the issuance of convertible senior notes with an aggregate principal amount of USD 200 million (approximately RMB 1.395 billion), due in 2031.
The notes are being offered in a private placement to qualified institutional buyers. Canadian Solar has granted the initial purchasers an option to purchase up to an additional USD 30 million (approximately RMB 209 million) in principal amount of the notes within 13 calendar days from the date of the initial issuance. The transaction is expected to close around January 13, 2026.
After deducting the initial purchasers’ discounts and estimated issuance expenses, Canadian Solar expects net proceeds of approximately USD 194.6 million (approximately RMB 1.357 billion). If the initial purchasers fully exercise the option to purchase additional notes, net proceeds are expected to increase to approximately USD 223.9 million (approximately RMB 1.562 billion).
The company plans to use the proceeds to invest in U.S. manufacturing, strengthen support across the value chain for battery energy storage and solar solutions, and for working capital as well as general corporate purposes.
According to available information, as of September 30, 2025, Canadian Solar’s e-STORAGE business had delivered more than 16 GWh of battery energy storage solutions to markets worldwide. As of October 31, 2025, e-STORAGE had approximately USD 3.1 billion in contracted backlog orders.
Source：EnergyTrend