United Photovoltaics to issue US$250 million bond through Merrill Lynch and Morgan Stanley

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United Photovoltaics Group is arranging a US$250 million bond through Merrill Lynch and Morgan Stanley. Image: United PV

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. 

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.

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