Canadian Solar secures US$48 million credit facility with Sumitomo Mitsui

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The facility has been increased from US$36 million to US$48 million and will  mature in March 2022. Image: Canadian Solar

Canadian Solar subsidiary Canadian Solar Projects K.K. has expanded and renewed its credit facility with a syndicate of four finance leasing institutions led by Sumitomo Mitsui (SMFL), a member of Sumitomo Mitsui Financial Group.

The facility has been increased from US$36 million to US$48 million and will  mature in March 2022. With this credit facility, Canadian Solar plans to develop more high-quality PV installations across Japan.

Dr. Shawn Qu, chairman and chief executive officer of Canadian Solar Inc. said: “Since 2018, as a testament to Canadian Solar's deep operating experience and credit strength, we have successfully raised US$ 145 million of flexible capital sources at favorable rates from our relationship Japanese lenders. We value the ongoing support of SMFL and our syndicate group of finance leasing institutions.”

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