Business
Canadian Solar Secures JPY 5.35 Billion Credit Facility with Sumitomo Mitsui Finance and Leasing Company
GUELPH, Ontario, April 29, 2019 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar
About this update from Canadian Solar Inc.
[{"type":"text","content":"GUELPH, Ontario, April 29, 2019 /PRNewswire/ -- Canadian Solar Inc. (the \"Company\", or \"Canadian Solar\") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that its wholly-owned subsidiary Canadian Solar Projects K.K. has expanded and renewed its credit facility with a syndicate of four finance leasing institutions led by Sumitomo Mitsui Finance and Leasing Company, Limited (\"SMFL\"), a member of Sumitomo Mitsui Financial Group. SMFL is one of Japan's largest leasing institutions with global presence. \n The facility has been increased from JPY 4.0 billion (US$36 million) to JPY 5.35 billion (US$48 million) and will mature in March 2022. The Company intends to utilize the facility to develop more high quality solar power projects in Japan.\nDr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc. commented, \"Since 2018, as a testament to Canadian Solar's deep operating experience and credit strength, we have successfully raised JPY 16 billion (US$ 145 million) of flexible capital sources at favorable rates from our relationship Japanese lenders. We value the ongoing support of SMFL and our syndicate group of finance leasing institutions.\" \nAbout Canadian Solar Inc.\nCanadian Solar was founded in 2001 in Canada and is one of the world's largest and foremost solar power companies. It is a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions and has a geographically diversified pipeline of utility-scale power projects in various stages of development. Over the past 18 years, Canadian Solar has successfully delivered over 32 GW of premium quality modules to customers in over 150 countries around the world. Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.\nSafe Harbor/Forward-Looking Statements\nCertain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the \"Safe Harbor\" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such t...