China Sunergy to offer $50M convertible senior notes
Manufacturer of solar cell products China Sunergy Co., Ltd. (Nasdaq:CSUN) said this morning that it has priced an offering of $50 million of convertible senior unsecured notes due in 2013 to institutional buyers. The Chinese small cap said it will use the proceeds for expansion of production capacity, enhancement of research and development and general corporate purposes.
The transaction is expected to close on July 1, 2008.
Shares slide 4.5%, or $0.49, to $10.51 in pre-market trading. For detailed price information and recent news stories about China Sunergy, click CSUN.
