Trina Solar has completed the repurchase of its outstanding convertible debt on schedule.
The firm issued US$138 million in aggregate principal amount of the Notes in July 2008 and began purchasing them in the fourth quarter of 2011. The company’s first quarter earnings showed a total of $84 million was outstanding as of 31 March 2013 with this final chunk cleared on 15 July.
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The PV module manufacturer is now clear of convertible debt. The company does have around US$334 million in bank repayments due in 2014.