LDK Solar has entered into a strategic financing agreement with China Development Bank (CDB) for the provision of up to RMB 60 billion (approximately US$8.9 billion) of credit facilities for LDK over a five-year period. Terms of the individual credit facilities and lending agreements will be subject to CDB’s internal risk management requirements and operational regulations.
These finances will be utilized by LDK Solar to support its long-term growth initiatives and corporate development plans. “We are very pleased to enter into this strategic financing agreement with CDB which demonstrates their confidence in and support of LDK Solar,” said Xiaofeng Peng, chairman and CEO of LDK Solar. “Through our strong partnership with CDB, we will have an enhanced ability to pursue our long-term growth strategy and further strengthen our position within the PV industry market.”