JinkoSolar Reports Price Offering of $125 Million of Convertible Senior Notes

Concurrently with the offering, the Company entered into a capped call transaction with an affiliate of an initial purchaser. The cap price under the capped call transaction will initially equal a price approximately 75 percent above the last reported sale price of the ADSs on the NYSE on May 11. Th...

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Published inProfessional Services Close - Up
Format Newsletter
LanguageEnglish
Published Jacksonville Close-Up Media, Inc 16.05.2011
Subjects
Silicon wafers
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Summary:Concurrently with the offering, the Company entered into a capped call transaction with an affiliate of an initial purchaser. The cap price under the capped call transaction will initially equal a price approximately 75 percent above the last reported sale price of the ADSs on the NYSE on May 11. The Company noted that the capped call transaction is expected generally to reduce the potential dilution of the Company's ordinary shares and ADSs upon a conversion of the notes in the event that the market value per ADS of the Company, as measured under the terms of the capped call transaction, is greater than the strike price of the capped call transaction (which initially corresponds to the conversion price of the notes and is subject to certain adjustments similar to those contained in the notes), but such reduction will be capped if such market value is greater than the cap price of the capped call transaction.