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Suntech Power Getting USD50mn Convertible Loan from IFC

Posted on: Thu, 02 Jul 2009 08:03:00 EDT

Symbols: IFK, STP

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The convertible loan will be mainly used to support the high efficiency Pluto technology, targeted at the improvement of the power output of crystalline silicon solar cells, in such aspects as production expansion and refinancing, reports said.

The loan, with a term of seven years, will be returned in accordance with a fixed annual interest rate of 5.0 percent. Also, it can be converted into Suntech Power's American depository share (ADS) at a price of USD 18 per share.

Suntech Power Chairman and CEO Shi Zhengrong said that IFC was a first-class investment organization around the globe, and that the fund would improve the performance of his company and enable his company to go forward the goal of greatly pulling down prices of electricity generated by solar power.

Source: www.cnstock.com (July 02, 2009)

For full details on (IFK) IFK. (IFK) has Short Term PowerRatings at TradingMarkets. Details on (IFK) Short Term PowerRatings is available at This Link.

For full details on Suntech Power Holdings Co Ltd (STP) STP. Suntech Power Holdings Co Ltd (STP) has Short Term PowerRatings at TradingMarkets. Details on Suntech Power Holdings Co Ltd (STP) Short Term PowerRatings is available at This Link.

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