Connect with us

Renewable Energy Times

Yingli unit withdraws appeal to court ruling on overdue notes

Solar

Yingli unit withdraws appeal to court ruling on overdue notes


October 24 (Solar) – Baoding Tianwei Yingli New Energy Co Ltd has recently withdrawn its appeal to a Chinese court’s first-instance judgment that the firm should repay principle, related interest and overdue penalty of certain medium-term notes (MTNs).

Chinese solar photovoltaics (PV) maker Yingli Green Energy Holding Co Ltd (OTCMKTS:YGEHY), the debt-laden parent of Tianwei Yingli, said in a statement that the firm plans to continue to communicate with the holder of the overdue notes regarding a feasible payment scheme that would satisfy the court ruling.

In May, Yingli Green announced that a Chinese court had ordered the company’s subsidiary to pay back the principle, related interest and overdue penalty of the MTNs due October 13, 2015 and May 12, 2016 issued by Tianwei Yingli. Those particular notes represent about 3.7% of the total amount of MTNs still outstanding. Their principal amount is CNY 65.7 million (USD 9.5m/EUR 8.3m).

The unnamed noteholder filed a lawsuit against the company last year in order to recover the amounts.

Yingli Green was delisted from the New York Stock Exchange (NYSE) over the summer.

(CNY 1.0 = USD 0.144/EUR 0.126)


Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

More in Solar

Categories

October 2018
M T W T F S S
« Sep   Nov »
1234567
891011121314
15161718192021
22232425262728
293031  

Follow

Subscribe to notifications
To Top
%d bloggers like this: