Discover our upstream and downstream technical journals

China’s banking regulator has asked the country’s development bank to pay out loans to indebted solar manufacturer Yingli Solar.

According to reports by Bloomberg, the China Banking Regulatory Commission (CBRC) has requested that the China Development Bank (CDB) be provided with RMB7.5 billion (US$1.16 billion). RMB2.5 billion is already agreed but the reports claim a further RMB5 billion has been requested by the regulator.

A consortium of banks is reportedly in talks with the CBRC about a plan to support Yingli. Last week the company announced that talks with bondholders over a postponement of existing repayment schedules had failed to reach an agreement. The company owes more than US$200 million on 12 May unless it can negotiate an alternative arrangement with its creditors.

Yingli Green had US$1.55 billion in short-term borrowings, including current portion of medium notes and long-term debt and total current liabilities of US$2.96 billion at the end of the third quarter of 2015, the last time the company filed a quarterly report.

Tags: yingli, finance, china, china development bank

Solar Media Events

Utility Solar Summit UK

Jun 15 - Jun 16, 2021

London, UK

The Utility Solar Summit UK will focus entirely on the opportunities in the UK ground-mount space and feature the new technology and advanced innovations allowing asset owners to improve yield in a subsidy free market. Listen to senior market leaders share stories of their successes and manufacturers pushing the envelope for solar PV whilst taking advantage of our enhanced networking features to connect you with your peers onsite; realising the potential of UK utility scale deployment from 2020 and beyond.

Find out more

Comments