{"id":580,"date":"2020-09-30T15:00:36","date_gmt":"2020-09-30T06:00:36","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=580"},"modified":"2020-09-30T11:48:32","modified_gmt":"2020-09-30T02:48:32","slug":"canadian-solar-announces-closing-of-offering-of-us230-million-convertible-senior-notes","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2020\/580.html","title":{"rendered":"CANADIAN SOLAR ANNOUNCES CLOSING OF OFFERING OF US$230 MILLION CONVERTIBLE SENIOR NOTES"},"content":{"rendered":"
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GUELPH, ON,\u00a0Sept. 16, 2020\u00a0\/PRNewswire\/ —\u00a0Canadian Solar Inc.\u00a0(NASDAQ: CSIQ) (the “Company”, or “Canadian Solar”), one of the world’s largest solar power companies, today announced the closing of its previously announced offering of\u00a0US$230 million\u00a0in aggregate principal amount of 2.50% convertible senior notes due 2025 (the “Notes”), which includes the exercise in full by the initial purchasers of their option to purchase an additional\u00a0US$30 million\u00a0in aggregate principal amount of the Notes. The Company received aggregate net proceeds of approximately\u00a0US$223 million\u00a0from the offering, after deducting discounts, commissions and offering expenses.<\/span><\/p>\n

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Dr.\u00a0Shawn Qu<\/a>, Chairman and CEO, commented, “We are pleased with the strong investor support and participation in our convertible offering. This transaction gives us additional financial resources to step up our expansion plans and benefit from the accelerating demand growth for solar energy and the supply consolidation in the industry. We plan to deploy the capital to expand our high-quality manufacturing capacity and pipeline of solar projects as we solidify\u00a0Canadian Solar’s\u00a0position as the global market leader in solar energy.”<\/span><\/p>\n

Dr. Qu\u00a0added, “This offering is in addition to the ongoing pre-IPO equity raise to bring in new financing and strategic partners to our MSS business in\u00a0China, which is well on track. Both capital raisings are part of our latest growth strategy to increase\u00a0Canadian Solar’s\u00a0future market share and earnings power, and further unlock value for our shareholders.”<\/span><\/p>\n

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The offering of the Notes was exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), and the Notes were offered and sold only in\u00a0the United States\u00a0to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A and to non-U.S.\u00a0persons outside\u00a0the United States\u00a0in reliance on Regulation S under the Securities Act. The Notes and the common shares deliverable upon conversion of the Notes have not been and will not be registered under the Securities Act or the securities laws of any other place, and may not be offered or sold in\u00a0the United States\u00a0absent registration or an applicable exemption from registration requirements.<\/span><\/p>\n

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This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be any offer, solicitation or sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.<\/span><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

GUELPH, ON,\u00a0Sept. 16, 2020\u00a0\/PRNewswire\/ —\u00a0Canadian Solar Inc.\u00a0(NASDAQ: CSIQ) (the “Company”, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-580","post","type-post","status-publish","format-standard","hentry","category-releases"],"_links":{"self":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/comments?post=580"}],"version-history":[{"count":8,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/580\/revisions"}],"predecessor-version":[{"id":588,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/580\/revisions\/588"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}