Sorry for posting the whole article is a google translation
The LDK Solar Conditional CDB 400 million yuan of special loans
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08 Xinhua net Nanchang, January 26 (Reporter Sun Weiwei, Linyan Xing, Liu Bin) Xinhua News Agency reporter 26 exclusively learned that meet the pre-conditions for the case of LDK Solar Hi-Tech Co., Ltd. (LDK.NY, 11 the Zevi MTN1) National Development Bank will receive more than 400 million yuan loan for silicon materials plant overhaul subordinates cold hydrogenated transformation.The transformation is complete, Zevi silicon material production costs will be reduced to less than $ 20 per kilogram, expected to be restarted, and strive to separate listing.
Jiangxi Branch sources close CDB, the CDB on this loan is a pre-condition, and has not been paid in place, the future will be in the appropriate marketprices under the conditions given to LDK Solar, in order to ensure that the cold hydride transformation in place profit after the company won. Insiders said that, even so, this loan is approved the amount of new loans is still the first time since 2011 CDB Zevi new loans, but also China's banking sector since last year only a handful of China's photovoltaic industry. This indicates that the Chinese banking institutions Zevi even Chinese PV industry is gradually restored confidence.
Liabilities are too high and continues to rise, LDK Solar troubled, its asset-liability ratio increased from 78.2% in the second quarter of 2011 quarter by quarter, and 94% in the third quarter of 2012, total liabilities amounted to 20.6 billion yuan. Silicon materials plant investment of 12 billion yuan Zevi liabilities whereabouts. Europe, the United States and South Korea to dumping cheap Chinese silicon material, LDK is located the McMahon and under village Total annual production capacity of 22,000 tons of silicon materials plant due to high production costs, can not Shunjiaxiaoshou, have been discontinued since May 2012 has so far failed to resume production.
, LDK has invested several hundred million dollars on the transformation of the cold hydrogenated silicon materials plant in order to reduce the cost of production of the silicon material, trying to resume production as soon as possible. The the LDK Group President and CEO of the Tong Hing snow before an interview with reporters, said silicon materials plant investment liabilities heavy, but recover its effect will be obvious. With the case of silicon materials in Europe and the United States "double reverse" neighboring increase in the domestic market price of silicon material or fairly rapid. Just invested several hundred million dollars of funds, the silicon material plant will soon be put into production, cash flow and profits earned by the company, the force to help the company to profitability. Until conditions are ripe, the company will continue to strive silicon materials plant in the capital market.