China-based PV energy provider (PVEP) United Photovoltaics Group is arranging a US$250 million bond through Merrill Lynch and Morgan Stanley.
United PV also said that the 8.25% senior notes due in 2020 included book runners Merrill Lynch International, Morgan Stanley, Nomura, China Merchants Securities (HK) and CITIC CLSA.
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The company said that the funds, expected to be around US$241.0 million after commissions and expenses would be used pay down other loans used for PV power plant construction.
