LDK Solar (LDK) Guides Q2 Revs Below The Street, Secures Financing
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LDK Solar Co., Ltd. (NYSE: LDK) sees Q2 revenues of $215 and $225 million, below the consensus of $247.2 million.
LDK Solar estimates shipments between 220 and 230 megawatts. This compares to its previously issued guidance for the second quarter of 2009 of wafer shipments in the range of 200 to 220 MW.
LDK Solar additionally provided an update on its financing activities. The company secured a loan in the aggregate principal amount of RMB 500 million (equivalent to approximately US$73 million), with a term of one year, from The Export-Import Bank of China. The company also secured a loan in the aggregate principal amount of RMB 500 million (equivalent to approximately US$73 million), with a term of three years, from Huarong International Trust Co., Ltd. to support LDK Solar's polysilicon plant construction.
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