China’s largest polysilicon and solar wafer producer, GCL-Poly, has agreed a US$200 million bond sale to an Asian investment fund.
A subsidiary of PAG, formerly the Pacific Alliance Group, will purchase convertible bonds that will mature in November 2018.
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GCL Poly said the funds would be used for “capital expenditure and general corporate purposes”.
The company’s CFO Chau Tien Hsiang resigned in September this year with the board reporting there was no disagreement.