JinkoSolar (U.S.) INC. Signs Credit Agreement with Wells Fargo Bank, National Association
SHANGHAI, Nov. 11, 2014 /PRNewswire-FirstCall/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that its wholly owned subsidiary, JinkoSolar (U.S.) INC., ("JinkoSolar US"), has signed a USD$20 million two-year credit agreement with Wells Fargo Bank, National Association ("Wells Fargo"). Borrowings under the new credit agreement will be used to support JinkoSolar US's working capital and business operations.
"We are extremely pleased that a world-class institution such as Wells Fargo has shown their confidence in the future of our business," commented Mr. Charlie Cao, JinkoSolar's Chief Financial Officer. "This agreement reflects our solid track record of reliability and strengthens our financial position not only in the US but globally as well. Our position as a tier 1 solar industry player will provide us with a distinct competitive advantage that will be essential to our success as we rapidly ramp up our global capabilities. We remain focused on maintaining good relations with financial institutions worldwide as we continue to expand our geographic footprint across key growth markets."
About JinkoSolar Holding Co., Ltd.
JinkoSolar is a global leader in the solar industry with production operations in Jiangxi and Zhejiang Provinces in China and sales and marketing offices in Shanghai and Beijing, China; Munich, Germany; Bologna, Italy; Zug, Switzerland; San Francisco, the United States; Queensland, Australia; Ontario, Canada; Singapore; Tokyo and Osaka; Japan and Cape town, South Africa.
JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 2.3 GW for silicon ingots and wafers, 1.8 GW for solar cells, and 2.8 GW for solar modules, as of September 30, 2014. JinkoSolar sells electricity in China and distributes its solar products to a diversified customer base in the global PV market, including Germany, Italy, Belgium, Spain, the United States, Eastern Europe, China, India, Japan, South Africa, and other countries and regions.
To find out more, please see: www.jinkosolar.com
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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