Yingli Green Energy Holding Company Limited(NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic ("PV") manufacturers, which markets its products under the brand "Yingli Solar", announced that its wholly-owned subsidiary, Yingli Energy (China) Company Limited ("Yingli China"), signs two loan agreements (the "Agreements") with China Development Bank ("CDB") with an aggregate of US$ 165 million.
Under the terms of the Agreements, CDB will provide Yingli China with a one-year loan of US$110 million and a three-year loan of US$55 million to complement its working capital needs and support the procurement of raw material.
"We're pleased to enhance our cooperation with CDB." said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "With the new financing in place, we're confident to continue to solidify and reinforce our leading position globally. At the same time, as our operating cash flow position is on track to gain improvement, we expect to continuously optimize our balance sheet. "