BAODING, China, Oct. 18, 2019 -- Yingli Green Energy Holding Company
Limited (OTC Pink: YGEHY) ("Yingli Green Energy" or "the
Company"), one of the world's leading solar panel manufacturers, today
announced certain updates on its PRC subsidiaries' debt restructuring.
The Company's PRC subsidiaries recently held a meeting with
their major bank creditors to discuss issues regarding the framework
of their debt restructuring plan, which contemplates, among others, the
conversion of the debts owed to the bank creditors by the Company's major PRC
subsidiaries into controlling equity interests in the subsidiaries, and injection
of fund from potential strategic investors, as a result of which, the Company
may lose all of its interests (equity or otherwise) in these subsidiaries.
The Company understands that various parties, including relevant
governmental agencies, are making concerted efforts to promote the debt
restructuring of the Company's major PRC subsidiaries. Some of the potential
strategic investors were identified and the details of the debt restructuring
plan is being discussed among relevant parties. However, the Company and its
PRC subsidiaries have not received any binding proposal from any party with
respect to the debt restructuring and have not made any decision to engage in
any particular transaction with respect to the debt restructuring. The Company
will further update the market when there is
significant new progress.
SOURCE Yingli Green Energy
Holding Company Limited