Trina Solar (TSL) Secures $57M Credit Facilities from Standard Chartered Bank (China) Limited
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Trina Solar Limited (NYSE: TSL) today announced it has secured from Standard Chartered Bank (China) Limited new credit facilities totaling approximately $57 million, consisting of trade financing and defensive hedging products. The facilities are aimed to provide financial support to Trina Solar's raw material procurement and product sales while helping Trina Solar to mitigate foreign exchange risks associated with market volatilities.
The Company's total credit facilities stand currently at approximately $520 million, up from $460 million as previously announced. The new credit facilities are part of the Company's on-going strategy to optimize its long- term capital structure.
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