Press release
To: Business Editor [For immediate release]
Singyes Solar Secures US$100 Million Loan Facility
The financial program arranged by Heng Sang Bank and HSBC supports building
Singyes' leading position in the solar EPC and green buildings in Asia
(14th August 2015, HONG KONG) - China Singyes Solar Technologies Holdings Limited ("Singyes Solar" or "the Group"; 750.HK) announced that the Group received a US$100 million loan facility ("the Loan") arranged by Hang Seng Bank* and HSBC** yesterday, which are the mandated lead arrangers and book-runners of the Loan.
This is the largest US dollar syndication loan facility the Company has received in the past two years. In particular, this facility will further strengthen the Group's financial flexibility to maintain a stable and strong cash flow as well as grow its leading position in the solar EPC and green building sectors in Asia. The Loan made or to be made under the facility would bear interest at the rate of LIBOR plus interest margin of 3.4% per annum.
Mr. Liu Hongwei, Chairman of Singyes Solar, commented, "We are very flattered and honored to receive such strong support from the world's strongest bank and a global systemically important bank. We are celebrating the anniversary of our six-year listing in Hong Kong and our successful growth by virtue of tapping into international financial support. We are also delighted to commence this financial arrangement at a very low benchmark rate, which has endorsed our stable financial structure. We will utilize the financial arrangement to further build our unique business and financial model."
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About China Singyes Solar Technologies Holdings Limited
China Singyes Solar Technologies Holdings Limited (SEHK: 750) is a professional renewable energy solution provider and building contractor. It focuses on the integration of renewable energy systems by bringing energy savings to buildings, and is dedicated to economical solutions for green buildings. Singyes Solar specializes in developing curtain walls, building integrated photovoltaic/solar thermal (BIPV/BIST) systems, and focuses on solar EPC, solar thermal products, smart micro grid systems and PV and new material products.
*Hang Seng Bank was named as the World's Strongest Bank by Bloomberg Markets' in July 2015, for the second year in a row.
**HSBC is one of the global systematically important banks (G-SIBs).
For further enquiries about Singyes Solar, please contact:
Edelman Hong Kong
Angela Hui / Justin Chow
Tel: (852) 2837 4721 / 2837 4736
Email: Angela.Hui@edelman.com / Justin.Chow@edelman.com
