Yingli Taking the Money (YGE)
Chinese solar panel maker Yingle Green Energy Holding Company Limited (NYSE:YGE) has taken a loan of $50 million from a credit line established earlier this year with ADM Capital and the China Export-Import Bank. ADM Capital receives 4,125 warrants to…
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The new credit line with the bank gives Yingli access to long-term credit lines up to an aggregate amount of 1 billion RMB (about $147 million at today’s exchange rate). The credit line will replace all of Yingli’s short-term lines already provided by the bank.
Yingli’s shares are up about 2%, to $7.50/share. The 52-week range is $2.50-$27.96.
Paul Ausick
April 16, 2009
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