CHANGZHOU, China, Oct. 28, 2015 /PRNewswire/ -- Trina Solar Limited
(NYSE: TSL) ("Trina Solar" or the
"Company"), a global leader in photovoltaic ("PV") modules,
solutions, and services, today announced that it signed a 5-year
strategic cooperation agreement with CITIC Financial Leasing
Co., Ltd ("CITIC Financial Leasing") and a separate 3-year
strategic cooperation agreement with CITIC Bank Corporation Limited
Changzhou Branch ("CITIC Changzhou") (together "CITIC") on
October 28, 2015.
Under the terms of the agreements, as a preferred strategic
partner of CITIC, Trina Solar will
receive comprehensive, one-stop customized financial products and
services including credit facilities of RMB5
billion from CITIC Financial Leasing to support equipment
upgrade, downstream projects, as well as an additional credit line
of RMB5 billion from CITIC Changzhou
for trade financing including short-, medium- and long-term loans.
Access to foreign currency loans will also be available.
Ms. Teresa Tan, Chief Financial
Officer of Trina Solar, said: "We
are pleased to build a long-term strategic partnership with CITIC
based on our existing cooperative relationship to fuel our global
growth and optimize our capital structure. We believe these
arrangements demonstrate CITIC's continued strong confidence in our
current business model and future prospects. The two cooperation
agreements not only allow us access to CITIC's diverse financing
resources and experienced professional services, but also enable
CITIC to access Trina's established industry network and
participate in our strong growth. This strategic partnership
creates a win-win outcome. We will continue to secure necessary
funding to ensure adequate financial resources to support execution
of our growth strategy and enhance our leading position in the
solar industry."
About Trina Solar Limited
Trina Solar Limited (NYSE:TSL) is a global leader in
photovoltaic modules, solutions and services. Founded in 1997 as a
PV system integrator, Trina Solar
today drives smart energy together with installers, distributors,
utilities and developers worldwide. The company's industry-shaping
position is based on innovation excellence, superior product
quality, vertically integrated capabilities and environmental
stewardship. For more information, please visit
www.trinasolar.com.
Safe Harbor Statement
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 Company's ability to
raise additional capital to finance its activities; the
effectiveness, profitability and marketability of its products; the
future trading of the securities of the Company; the Company's
ability to operate as a public company; the period of time for
which the Company's current liquidity will enable the Company to
fund its operations; general economic and business conditions;
demand in various markets for solar products; the volatility of the
Company's operating results and financial condition; the Company's
ability to attract or retain qualified senior management personnel
and research and development staff; and other risks detailed in the
Company's filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the Company and the
industry in which the Company operates. The Company undertakes no
obligation to update forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these forward
looking statements are reasonable, it cannot assure you that such
expectations will turn out to be correct, and the Company cautions
investors that actual results may differ materially from the
anticipated results.
Trina Solar
Limited
|
Christensen
IR
|
Teresa Tan, CFO
(Changzhou)
|
Linda
Bergkamp
|
Email:
teresa.tan@trinasolar.com
|
Phone: +1 480 614
3014 (US)
|
|
Email:
lbergkamp@ChristensenIR.com
|
Yvonne
Young
|
|
Investor Relations
Director
|
|
Email:
ir@trinasolar.com
|
|
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SOURCE Trina Solar Limited