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JinkoSolar closes ADS, senior note placements

Solar module. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.

May 21 (Renewables Now) - Chinese solar module maker JinkoSolar Holding Co Ltd (NYSE:JKS) has completed its recently announced offerings of American depositary shares (ADSs) and USD 85 million (EUR 76.2m) worth of convertible senior notes.

The company launched the sale of 4.06 million ADSs at USD 16 per unit last week. Each of the offered ADSs represents four ordinary shares at a par value of US 0.00002 apiece. The underwriters of the offering have exercised their option to buy up to 609,375 of additional ADSs at USD 16 per ADS to cover over-allotments, JinkoSolar said on Monday.

In a separate transaction among non-US parties, JunkoSolar offered USD 85 million worth of 2024 convertible senior notes. Unnamed affiliates of Credit Suisse Securities (USA) LLC bought some of the securities.

Credit Suisse Securities (USA) LLC and Barclays Capital Inc acted as joint bookrunners for the ADS sale, where Roth Capital Partners LLC was a co-manger. The placement agent for the notes sale was Credit Suisse Hong Kong Ltd.

(USD 1.0 = EUR 0.897)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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