Canadian Solar (CSIQ) Enters $100M Guarantee Facility with EDC
- Wall Street dips on Trump protectionism, Qualcomm drag
- Yahoo! (YHOO) Tops Q4 EPS by 4c; Sees Verizon Deal Closing in Q2, Not Q1
- Aetna's (AET) Humana (HUM) Takeover Blocked by Judge as Anticompetative
- Trump signs order withdrawing U.S. from Trans-Pacific trade deal
- After-Hours Stock Movers 1/23: (REXX) (MRCY) (SYNC) Higher; (FSM) (OCUL) (CASC) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Canadian Solar Inc. (Nasdaq: CSIQ) announced that it has signed a financing agreement, pursuant to which, Export Development Canada ("EDC") has agreed to provide guarantees or letters of credit of up to US$100 million to Canadian Solar to support its global activities of project development. Royal Bank of Canada and Toronto Branch of China Construction Bank Corporation will serve as fronting banks on the facility.
"We are very pleased to work with EDC to execute on our global solar power business strategy. With EDC's backing, we are able to improve our financial flexibility on our capital allocation to new solar projects," commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, "The continuous support we received from EDC is a testament to our leading position in the global solar industry. We value our strategic partnership with EDC as we continue to deliver on our commitment to accelerating the deployment of clean, reliable, emission-free solar energy worldwide."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- GlobalStar (GSAT) Announces Departure of COO David Kagan
- First Internet Bancorp (INBK) Names Nicole Lorch as COO
- Stonemor Partners (STON) Announces Resignation of CFO Sean McGrath
Create E-mail Alert Related CategoriesCorporate News, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!