North Coast Solar Stocks

May 19, 2009

ReneSola Announces Convertible Bond Repurchases

Filed under: SOL — Tags: , , , — Jason @ 10:14 am

Tuesday May 19, 2009, 10:14 am EDT

JIASHAN, China, May 19 /PRNewswire-Asia-FirstCall/ — ReneSola Ltd (SOL), a leading global manufacturer of solar wafers, today announced that during the second quarter of 2009, the Company repurchased RMB270 million aggregate principal amount of its RMB928,700,000 U.S. Dollar Settled 1.0% Convertible Bonds due March 26, 2012 (the “Bonds”), for a total consideration of approximately RMB186 million. The total consideration was paid approximately 76% by cash and 24% by shares.

Application has been made for 4,000,000 shares (represented by 2,000,000 American Depository Shares (“ADSs”)), issued in part consideration for the repurchase, to be admitted to trading on AIM on May 20, 2009. The ADSs will be admitted to listing on the NYSE on or about the same date.

ReneSola may from time to time seek to make additional repurchases of its Bonds. Such repurchases, if any, will depend on prevailing market conditions, the Company’s liquidity requirements and other factors.

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