Report of Foreign Issuer (6-k)
April 02 2014 - 6:41AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2014
Commission File Number: 001-33464
LDK SOLAR
CO., LTD.
(Translation of registrants name into English)
Hi-Tech Industrial Park
Xinyu City
Jiangxi
Province 338032
Peoples Republic of China
(Address of principal executive offices)
Indicate by check mark whether
the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F
x
Form 40-F
¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7):
¨
Indicate by check mark whether by furnishing the
information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes
¨
No
x
If Yes is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-
LDK Solar and its Joint Provisional Liquidators Provide Update
We, LDK Solar Co., Ltd.,
in provisional liquidation
, and our Joint Provisional Liquidators, Tammy Fu and Eleanor Fisher, both of Zolfo
Cooper (Cayman) Limited (the JPLs) in response to the announcement by the NYSE of its decision to suspend trading in our American Depositary Shares and to commence delisting proceedings, wish to reiterate our commitment to continuing to
work with our offshore creditors to achieve the restructuring of our offshore liabilities.
The JPLs are evaluating all of their options
with respect to the NYSEs announcement, and are greatly encouraged by the significant progress made since their appointment on February 27, 2014 toward achieving an offshore restructuring. As announced by us on March 28, 2014,
restructuring support agreements have been signed by holders of approximately 60% in aggregate principal amount of the our 10% Senior Notes due 2014 (the Senior Notes RSA) and by holders of approximately 79% of the convertible preferred
shares issued by one of our affiliate and involving claims against us (the Preferred Obligations RSA). As also announced by us on March 28, 2014, we have obtained a signed commitment letter from Heng Rui Xin Energy (HK)
Co., Limited, an existing shareholder of us, to provide interim financing (the Interim Financing) up to an aggregate principal amount of US$14 million.
The execution of both the Senior Notes RSA and the Preferred Obligations RSA together with the commitment to the Interim Financing represent a
significant and positive step for us in the efforts to restructure our offshore obligations, and the JPLs intend to seek the sanction of the Cayman court for us to enter into the Senior Notes RSA, the Preferred Obligations RSA and the Interim
Financing at a hearing scheduled for April 2, 2014.
Our press release issued on April 1, 2014 is attached hereto as Exhibit
99.1.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
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LDK SOLAR CO., LTD
.,
in provisional liquidation
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By:
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/s/ Jack Lai
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Name:
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Jack K.S. Lai
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Title:
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Company Secretary
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Date: April 2, 2014
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Exhibit 99.1
LDK Solar and its Joint Provisional Liquidators Provide Update
XINYU CITY, China and SUNNYVALE, Calif., April 1, 2014 - LDK Solar Co., Ltd. in provisional liquidation (LDK Solar or the
Company) and its Joint Provisional Liquidators, Tammy Fu and Eleanor Fisher, both of Zolfo Cooper (Cayman) Limited (the JPLs) in response to todays announcement by the NYSE of its decision to suspend trading in
LDKs American Depositary Shares and to commence delisting proceedings, wish to reiterate their commitment to continuing to work with LDK Solars offshore creditors to achieve the restructuring of LDK Solars offshore liabilities.
The JPLs are evaluating all of their options with respect to the NYSEs announcement, and are greatly encouraged by the significant progress made since
their appointment on February 27, 2014 towards achieving an offshore restructuring. As announced by the Company on March 28, 2014, restructuring support agreements have been signed by holders of approximately 60% in aggregate principal
amount of the Companys 10% Senior Notes due 2014 (the Senior Notes RSA) and by holders of approximately 79% of the convertible preferred shares issued by an affiliate of the Company and involving claims against the Company (the
Preferred Obligations RSA). As also announced by LDK Solar on March 28, 2014, the Company has obtained a signed commitment letter from Heng Rui Xin Energy (HK) Co., Limited, an existing shareholder of the Company, to
provide interim financing (the Interim Financing) up to an aggregate principal amount of US$14 million.
The execution of both the Senior
Notes RSA and the Preferred Obligations RSA together with the commitment to the Interim Financing represent a significant and positive step for the Company in its efforts to restructure its offshore obligations, and the JPLs intend to seek the
sanction of the Cayman court for LDK Solar to enter into the Senior Notes RSA, the Preferred Obligations RSA and the Interim Financing at a hearing scheduled for April 2, 2014.
A further announcement will be made by the Company following the hearing on April 2 2014.
Cautionary Note Regarding Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the projected financial information provided herein, LDK Solars ability to raise additional capital to
finance its operating activities, its ability to achieve a consensual solution to its onshore and offshore liabilities, the effectiveness, profitability and marketability of its products, the future trading of its securities, the ability of LDK
Solar to operate as a public company, the period of time during which its current liquidity will enable LDK Solar to fund its operations, its ability to protect its proprietary information, the general economic and business environment and
conditions, the volatility of LDK Solars operating results and financial condition, its ability to attract and retain qualified senior management personnel and research and development staff, its ability to timely and efficiently complete its
ongoing projects, and other risks and uncertainties disclosed in LDK Solars filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on information
available to LDK Solars management as of the date such information was prepared and on its expectations, assumptions, estimates and projections about LDK Solar and the PV industry as of such date. Actual results may differ materially from the
anticipated results because of such and other risks and uncertainties. LDK Solar undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, assumptions, estimates and
projections except as may be required by law.
About LDK Solar
in provisional liquidation
LDK Solar Co., Ltd.
in provisional liquidation
is a leading vertically integrated manufacturer of photovoltaic (PV) products. LDK Solar, through its
operating subsidiaries, manufactures polysilicon, mono and multicrystalline ingots, wafers, cells, modules, systems, power projects and solutions. LDK Solars principal manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu
City, Jiangxi Province in the Peoples Republic of China. LDK Solars subsidiary office in the United States is located in Sunnyvale, California. For more information about LDK Solar and its products, please visit
www.ldksolar.com.
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For more information contact:
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Company
in provisional liquidation
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Lisa Laukkanen
The Blueshirt Group for LDK
Solar
lisa@blueshirtgroup.com
+1-415-217-4967
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Jack Lai
Executive VP and CFO
LDK Solar Co., Ltd.
IR@ldksolar.com
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Provisional Liquidators
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Tammy Fu
Zolfo Cooper (Cayman) Limited
Cayman Islands
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Eleanor Fisher
Zolfo Cooper (Cayman)
Limited
Cayman Islands
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LDKenquiries@zolfocooper.ky
+1-345-946-0081
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Financial Advisor to Company
(
in provisional liquidation
)
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Augusto King
Jefferies LLC
aking@Jefferies.com
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Steven Strom
Jefferies LLC
sstrom@Jefferies.com
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Richard Klein
Jefferies LLC
rklein@Jefferies.com
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Legal Advisors to Company
(
in provisional liquidation
)
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Thomas Albrecht
Sidley Austin
talbrecht@sidley.com
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Timothy Li
Sidley Austin
htli@sidley.com
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Guy Manning
Campbells
gmanning@campbells.com.ky
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Mark Goodman
Campbells
mgoodman@campbells.com.ky
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Financial Advisor to Senior Notes Holders
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Legal Advisor to Senior Notes Holders
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Brandon Gale
Houlihan Lokey
bgale@hl.com
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Daniel Anderson
Ropes & Gray
daniel.anderson@ropesgray.com
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