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Trina Solar Scores $1.57 Billion in New Financing

Chinese solar PV provider Trina Solar Ltd. (NYSE: TSL) announced Wednesday morning that the company had secured RMB10 billion (approximately $1.57 billion) from Taiwan’s CITIC Financial Leasing and CITIC Bank’s Changzhou branch. Trina Solar’s corporate headquarters and factory are located in Changzhou.

Trina has signed a five-year “strategic cooperation agreement” with CITIC Financial and a separate three-year deal with CITIC’s Changzhou branch. Each deal is worth RMB5 billion, and the funds from CITIC Financial will be used to support equipment upgrades and downstream projects. The deal with CITIC Changzhou is a credit line for trade financing of term loans...