Trina Solar sells $120 million CB amid volatile conditions
A concurrent ADS offering aimed at creating a synthetic borrow facility is priced at an 8.5% discount, resulting in a low effective conversion premium.
Trina Solar, an integrated Chinese solar power company involved in the production of ingots and wafers as well as solar cells and modules, has raised $120 million from a convertible bond issue to help fund an expansion of its production capacity and the purchase of raw materials.
The deal, which was priced at best terms for investors, came after the company on Wednesday said it expects its second quarter net revenues to be in the range of $200 million to...
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