Hong Kong-based United Photovoltaics Group (United PV), a leading solar power plant investor and operator in China, announced that entered into a term sheet with CITIC Capital, pursuant to which United PV issues US$100 million convertible bonds to CITIC Capital, where the proceeds will be used to acquire solar power plant projects in China.
Pursuant to the term sheet, CITIC Capital will subscribe for the 6.75% three-year convertible bonds in the principal amount of US$100 million issued by United Photovoltaics at the conversion price of HK$1.59. The proceeds from which will be used to finance the acquisition of solar power plants in China.
Being the first solar power plant operating enterprise which discloses its solar power operation data and statistics to the HKEx, United PV will continue to lead the industry with its ability to afford a high level of public transparency.
Looking forward, United PV will continue to develop collaborative partnerships with fellow shareholding companies and strategic partners. Leveraging on the new business model of “Internet + New Energy + Finance” and the Company’s motto of bringing green energy into households, United PV will gather all strengths and power from different stakeholders in the energy sector and create the most sizable and professional solar power plant platform in China.