Trina Solar Limited (NYSE: TSL) (“Trina Solar” or “the Company”), a global leader in photovoltaic (PV) modules, solutions and services, today announced that it will redeem its outstanding convertible senior notes due 2013 (the “Notes”) on July 15, 2013 (the “Maturity Date”).
In July 2008, the Company issued $138 million in aggregate principal amount of the Notes. The Company began to repurchase its outstanding Notes in the fourth quarter of 2011. As set out in the Company’s first quarter earnings release, approximately $84 million of the Notes were outstanding as of March 31, 2013. Since the end of the first quarter, the Company repurchased another $27 million of its outstanding Notes. To date, the Company had repurchased approximately US$81 million of the Notes. Trina Solar expects to redeem all of its remaining outstanding Notes of an aggregate principal amount of $57 million, together with any accrued but unpaid interest, on the Maturity Date.