CHANGZHOU, China, Nov. 17, 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 two of its overseas
subsidiaries, Trina Solar (U.S.),
Inc. ("Trina Solar US") and Trina
Solar (Singapore) Science
& Technology Pte. Limited ("Trina Solar Singapore"), have
signed a total of US$90 Million in
financing facility agreements with Wells Fargo Bank, National
Association ("Wells Fargo") and Barclays Bank PLC ("Barclays").
The US$60 Million five-year
revolving loan signed with Wells Fargo will be used to support
Trina Solar US's working capital and business operations. The
Company believes this loan facility will provide the working
capital necessary to capture the market opportunities in the
region. The US$30 Million credit
line with Barclays will be used to support Trina Solar Singapore's
working capital to better capture growing opportunities in the
Asia Pacific region.
Ms. Teresa Tan, Chief Financial
Officer of Trina Solar, said: "We
are pleased to be working with both Wells Fargo and Barclays in our
ongoing global expansion. In addition to our well established
network in China, these two
financing arrangements obtained through our overseas subsidiaries
not only mark a new milestone for our company in terms of
leveraging our global network to establish new financing platforms,
but also reflect the growing confidence that premier global banks
have in our business operations. We will continue to diversify our
sources of funding to ensure that we have adequate funding at low
cost to take advantage of the favourable market conditions in the
solar energy sector. We are confident that these two credit
facilities plus others will facilitate the execution of our growth
strategies."
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- leading
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