JinkoSolar (U.S.) INC. Signs Amendments to Credit Agreement with Wells Fargo Bank, National Association
SHANGHAI, June 30, 2015 -- 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 amendments to the credit agreement with Wells Fargo Bank, National Association ("Wells Fargo") .Under the new terms of the credit agreement, JinkoSolar US’s credit limit will be raised to $40 million from $20 million.
“Raising our credit limit indicates Wells Fargo’s recognition and confidence in JinkoSolar’s financial position,” commented Mr. Charlie Cao, JinkoSolar's Chief Financial Officer. “As one of the most active financial institutions in US PV investment, Wells Fargo has very strict requirements for the debtors’ financial position. While we are expanding our business in the U.S., we are pleased to further strengthen our cooperation with Wells Fargo. We are determined to further expand our overseas financing channels going forward.”
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 3 GW for silicon ingots and wafers, 2.0 GW for solar cells, and 3.5 GW for solar modules, as of March 31, 2015. JinkoSolar also sells electricity in China, and has connected approximately 617 MW of solar power projects to the grid, as of March 31, 2015.
JinkoSolar has over 15,000 employees across its 5 productions facilities in Jiangxi and Zhejiang Provinces, China, Malaysia, Portugal and South Africa, 12 global sales offices in China, Spain, the United Kingdom, the United Arab Emirates, Jordan, Saudi Arabia, Egypt, Morocco, Ghana, Brazil, Costa Rica and Mexico and 11 oversea subsidiaries in Germany, Italy, Switzerland, the United States, Canada, Australia, Singapore, Japan, India, South Africa and Chile.
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.
For JinkoSolar related investor and media inquiries, please contact:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21 6061 1792