Kirkland & Ellis advised Canadian Solar Inc. in the transaction.
Canadian Solar Inc. (NASDAQ: CSIQ), one of the world’s largest solar power companies, completed the global offering of its 2.5% convertible senior notes due 2025 in an aggregate principal amount of US$200 million. The notes have been sold pursuant to Rule 144A and Regulation S and were priced on September 10, 2020.
The Company has granted the initial purchasers in the offering a 30-day option to purchase up to an additional US$30 million aggregate principal amount of the Notes. The Company plans to use the net proceeds from the offering for general corporate purposes, which may include the expansion of manufacturing capacity, development of solar power projects and working capital.
Canadian Solar was founded in 2001 in Canada and is one of the world’s largest solar power companies. It is a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions and has a geographically diversified pipeline of utility-scale solar power projects in various stages of development.
The Kirkland team advising Canadian Solar was led by transactional partner David Zhang (Picture) and capital markets partner Ben James and included tax partner Karen Lee and employee benefits partner Elizabeth Dyer.
Law Firms: Kirkland & Ellis;
Clients: Canadian Solar Inc.;