BAODING, China, Sept. 30, 2015 /PRNewswire/ -- Yingli Green
Energy Holding Company Limited ("Yingli Green Energy" or "the
Company") (NYSE:YGE), one of the world's leading solar panel
manufacturers, today announced that its holding subsidiary, Baoding
Tianwei Yingli New Energy Company Limited ("Tianwei Yingli"), plans
to restructure the repayment plan for $157
million USD (1.0 billion RMB)
of mid-term notes ("MTNs") due on October 13, 2015.
The MTNs were issued by Tianwei Yingli as five-year unsecured
notes. The Company expects to receive approximately $138 million USD (875
million RMB) as the compensation ("the Compensation") from
the liquidation of idle land and demolition of facilities held by
Fine Silicon, one of the Company's wholly-owned subsidiaries. The
Company believes it will be able to collect a substantial amount of
the Compensation to partially repay the MTNs before the end of
2015. The remaining amount of the MTNs is expected to be repaid
within one year, and will be collected from various financing
sources, including the Company's collection of accounts
receivables.
"The Company has established good will with our major
notes-holders through the successful repayment of our mid-term
notes due this May, which amounted to $188
million USD, and we are closely communicating with the
notes-holders again around this revised repayment plan," commented
Mr. Yiyu Wang, Chief Financial
Officer of Yingli Green Energy.
For further clarification, the Company will host a conference
call at 8:00 AM U.S. Eastern Daylight
Time (GMT+8, 8:00 PM), on
September 30, 2015. The Company's managements will
attend the conference call and answer questions from our investors
and the market.
The dial-in details for the live conference call are as
follows:
-- U.S. Toll Free Number: +1-866-519-4004
-- International Dial-in Number: +1-845-675-0437
-- Passcode: 50659985
A replay of the conference call will be available until
October 8, 2015 by
dialing:
-- U.S. Toll Free Number: +1-855-452-5696
-- International Dial-in Number: +1-646-254-3697
-- Passcode: 50659985
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known
as "Yingli Solar," is one of the
world's leading solar panel manufacturers. Yingli Green Energy's
manufacturing covers the photovoltaic value chain from ingot
casting and wafering through solar cell production and solar panel
assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 30
regional subsidiaries and branch offices and has distributed more
than 14 GW solar panels to customers worldwide. For more
information, please visit www.yinglisolar.com and join the
conversation on Facebook, Twitter and
Weibo.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target" and
similar statements. Such statements are based upon management's
current expectations and current market and operating conditions,
and relate to events that involve known or unknown risks,
uncertainties and other factors, all of which are difficult to
predict and many of which are beyond Yingli Green Energy's control,
which may cause Yingli Green Energy's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in Yingli Green
Energy's filings with the U.S. Securities and Exchange Commission.
Yingli Green Energy does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under applicable law.
For further information, please contact:
Qing Miao
Vice President of Corporate Communications
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
E-mail: ir@yingli.com
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SOURCE Yingli Green Energy Holding Company Limited