LDK Solar (LDK) Jumps on New $8.9B Financing Agreement with CDB
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Shares of LDK Solar (NYSE: LDK) are popping amid a HSBC downgrade, as the company announced that it has entered an $8.9 billion financing agreement with China Development Bank Corp. Shares are up 7.8% on heavy volume in the early trading session.
The agreement has CDB providing up to RMB 60 billion over a five-year period. The financings will support LDK Solar's long-term growth initiatives and corporate development plans.
Terms of the individual credit facilities and lending agreements will be subject to CDB's internal risk management requirements and operational regulations.
The agreement has CDB providing up to RMB 60 billion over a five-year period. The financings will support LDK Solar's long-term growth initiatives and corporate development plans.
Terms of the individual credit facilities and lending agreements will be subject to CDB's internal risk management requirements and operational regulations.
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