Canadian Solar (CSIQ.NASDAQ), one of the world's largest solar power companies in China, announced on Thursday that it had inked a 100 million US dollar two-year senior secured term loan arranged by Credit Suisse AG, Singapore Branch.
In connection with the term loan, Canadian Solar issued the lenders warrants to purchase up to 1,348,040 shares of common stock at an exercise price of 24.48 US dollars per share. The warrants will expire two years from the date of the closing, on October 25, 2017, the company said in a release on its website. The term loan is being used to retire a bridge loan used to finance the acquisition of Recurrent Energy LLC and for general corporate purposes, the company said.
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