China Sunergy lower after reporting $45M notes offering
China Sunergy Co., Ltd. (Nasdaq:CSUN) is sliding in pre-market trading after the solar cell maker announced late Monday that it will sell $45 million in convertible senior notes to a private buyer. The China-based company said it plans to grant the purchaser an option to buy an additional $5 million of the notes. The terms and timing of the offering have not been finalized. The notes are due 2013.
In Tuesday morning trading, CSUN is down 4.4%, or $0.49, to $10.55. For detailed price information and recent news stories about China Sunergy, click CSUN.
