JinkoSolar Signs JPY2 Billion Syndicated Loan Agreement with Japanese Bank Consortium Led by SMBC
JinkoSolar Holding Co. Ltd.a global leader in the photovoltaic (PV) industry, recently announced that JinkoSolar Japan K.K. (“JinkoSolar Japan”), a subsidiary of the Company, has signed a one-year JPY2 billion syndicated loan agreement with a bank consortium led by Sumitomo Mitsui Banking Corporation (“SMBC”) and includes Mizuho Bank, Ltd., the Tokyo Branch of the Industrial and Commercial Bank of China (ICBC) and NEC Capital Solutions Limited. The financing will be used to supplement JinkoSolar Japan’s working capital.
“We are delighted to secure financing from a local bank consortium in Japan that will allow us to pursue opportunities in Japanese market. JinkoSolar has been working closely with more than 85 banks worldwide and is one of the most bankable companies in solar industry thanks to its world-record holding technology and field-proven quality.” commented Mr. Charlie Cao, JinkoSolar’s Chief Financial Officer. “The cooperation with SMBC demonstrates the trust and recognition that first-tier Japanese commercial banks have in our brand and operations in Japan. We look forward to further deepening our relationship with SMBC and other local banks as we expand our business there.”