Canadian Solar (CSIQ) Enters $100M Guarantee Facility with EDC
- Wall Street climbs in wake of first presidential face-off
- Nike (NKE) Tops Q1 EPS by 17c; Futures Orders Miss Views
- Tempur Sealy (TPX) Updates on Outlook; Sees Q3 Sales Below Prior Expectations
- Galectin (GALT) Reports Exploratory Phase 2a Pilot Trial of GR-MD-02 in Nash Misses Primary Biomarker Endpoint; Announces $1.5M Private Placement
- Mizuho Securities Downgrades Twitter, Inc. (TWTR) to Underperform
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial 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
- Canadian Solar (CSIQ) Unit Enters 15-Year PPA with MCE
- Crestwood Equity Partners (CEQP), SWEPI Enter Gathering Agreement in Permian - Delaware Basin (RDS-A)
- Kitov Pharma (KTOV) Announces Positive Results for Additional KIT-302 Pharmacokinetic BE Study
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!