BAODING, China, May 12, 2016 /PRNewswire/ -- Yingli
Green Energy Holding Company Limited (NYSE:YGE) ("Yingli Green
Energy" or the "Company"), one of the world's leading solar panel
manufacturers, today announced that its subsidiary, Baoding Tianwei
Yingli New Energy Company Limited ("Tianwei Yingli"), did not repay
its RMB1.4 billion of medium-term
notes due today (the "2011 MTNs") or the remaining portion of its
RMB1.0 billion of medium-term notes
due on October 13, 2015 (the "2010
MTNs").
To the Company's knowledge, none of the holders of the 2011 MTNs
or the 2010 MTNs or other creditors of the Company has taken any
immediate action against Tianwei Yingli or the Company following
Tianwei Yingli's failure to repay the 2011 MTNs and the 2010 MTNs
today. As disclosed in the Company's press release issued
yesterday, Tianwei Yingli is still in the process of actively
discussing with the holders of the 2011 MTNs and the 2010 MTNs
about potential extension of the repayment dates of both MTNs. The
Company is exploring various alternative financing plans for
repayment of both MTNs such as: 1) introduction of strategic
investors to invest into the Company and the Company's
subsidiaries, 2) introduction of new creditors to grant new
borrowings to the Company or the Company's subsidiaries, and 3)
sales of certain long-lived assets including land use rights to
obtain additional funds.
About Yingli Solar
Yingli Green Energy Holding Company Limited (NYSE: YGE), known
as "Yingli" or "Yingli Solar", is
one of the world's leading solar panel manufacturers. Yingli'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 has more than 30 regional
subsidiaries and branch offices and has distributed more than 14GW
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's control.
Forward-looking statements involve risks, uncertainties and other
factors that could cause actual results to differ materially from
those contained in any such statements. Further information
regarding these and other risks, uncertainties or factors is
included in Yingli's filings with the U.S. Securities and Exchange
Commission. Yingli 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:
Jean Tian
Investor Relations Director
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
Email: ir@yingli.com
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SOURCE Yingli Green Energy Holding Company Limited