Canadian Solar announced that it has entered into a definitive agreement with PAG, an investment firm in Asia Pacific, pursuant to which PAG will subscribe for $200M in aggregate principal amount of convertible notes to be issued by the company. The transaction is expected to close in the fourth quarter of 2024, subject to closing conditions. The company will retain certain flexibility on draw downs, using the net proceeds to optimize its capital structure, repay certain other indebtedness and invest in solar development projects.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CSIQ:
- Options Volatility and Implied Earnings Moves This Week, August 19 – August 22, 2024
- Primoris to participate in a webinar with Roth MKM
- U.S. to encourage solar consumers to report scammy behavior, TIME says
- Canadian Solar’s e-STORAGE awarded turnkey EPC contract in Australia
- Canadian Solar price target raised to $12.28 from $9.10 at GLJ Research