Yingli Green Energy avoids bondholder default with US$46 million payment

May 3, 2017
Facebook
Twitter
LinkedIn
Reddit
Email
Yingli Green Energy has avoided another bond default with the payment of approximately US$46 million on one of its five-year unsecured medium-term notes (MTNs) that were due on May 3, 2017. Image: Yingli Green

Struggling China-based PV manufacturer Yingli Green Energy has avoided another bond default with the payment of approximately US$46 million on one of its five-year unsecured medium-term notes (MTNs) that were due on May 3, 2017.

According to Yingli Green, its subsidiary, Yingli China, which is engaged primarily in PV module manufacturing and downstream product sales, had made the payment to China Government Securities Depository Trust and Clearing Company Limited, as the nominated depositary and custodian of MTN issued in 2012. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Recently, Bank of Communications in China had demand that Yingli Green’s subsidiary, Tianwei Yingli should repay the principal and interest of its 2011 MTNs, the remaining principal of the 2010 MTNs and penalty for default payments under the 2011 MTNs and 2010 MTNs as soon as possible and within three months of  meetings with the debtor. It was unclear when such meetings would take place.

Yingli Green Energy recently reported an annual loss of US$293.6 million in 2016 and total debts of US$2.2 billion as well as a US$1.1 billion deficit in working capital with only US$73.0 million in cash and cash equivalents and US$52.1 million in restricted cash as of September 30, 2016. 

The company has not updated its cash balance for the end of 2016 and has delayed filing its 2016 annual report. 

Read Next

October 16, 2025
US utility-scale solar additions grew by 56% in 2024, reaching 30GW from 2023’s 19GW and representing over 54% of all new electricity generation capacity added in the country last year.
October 15, 2025
Independent power producer (IPP) Geronimo has begun construction on it’s150MW solar project in Illinois and commissioned the 125MW PV project in Michigan.
October 15, 2025
Indian module manufacturer Saatvik Green Energy, through its subsidiary Saatvik Solar Industries, has secured solar PV module orders worth INR6.89 billion (US$78 million).
Premium
October 14, 2025
OCI Holdings’ decision this week to buy a Vietnamese solar wafer facility to supply the US solar cell manufacturing industry makes clear the biggest vulnerability facing the sector today.
October 13, 2025
Korean chemical production firm OCI Holdings has acquired a 65% stake in a Vietnamese solar wafer production plant, intending to export solar wafers to the US.
October 13, 2025
US solar manufacturer T1 Energy has acquired a minority stake in fellow US-based solar cell producer Talon PV.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK