NEW YORK - Associated Press 05.12.08
China-based JA Solar Holdings Co. said Monday it plans to offer $300 million in convertible senior notes, due 2013.
JA Solar will grant underwriters an option to purchase up to an additional $45 million in notes, if more than $300 million of the notes are sold.
In some instances, the notes will be convertible into cash, American depositary shares, or a combination of both.
JA Solar will use proceeds to purchase and construct equipment and facilities, in addition to working capital and other corporate purposes.
JA Solar said the offering will be made under a shelf registration already filed with the Securities and Exchange Commission.
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