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GUELPH, ON, Oct. 17, 2023 /PRNewswire/ — Canadian Solar Inc. (the “Company” or “Canadian Solar”) (NASDAQ: CSIQ) today announced the successful placement of a JPY 18. 5 billion green samurai personal placement (“Private Placement”). Goldman Sachs Japan Co. , Ltd. (“GS”), the lead arranger and sole underwriter for domestic bond investors.
The placement has a duration of 3 years with a combination of constant (1. 82% per annum) and floating (approximately 1. 49% annual) semi-annual coupons.
The Japan Credit Rating Agency, Ltd. (“JCR”) has assigned the structured bond an investment grade score of “A-“. In addition, JCR has rated the issuer with the highest Green 1 score under the Japanese Green Bond Guidelines. . Orix Bank Corporation has been appointed trustee.
Canadian Solar is an experienced allocation bond issuer in Japan and has completed seven transactions for its ground-mounted solar allocations totaling more than 40 billion Japanese yen since 2016.
Dr. Shawn Qu, President and Chief Executive Officer of Canadian Solar, commented, “This is another innovative green bond transaction brought to the Japanese market through Canadian Solar and we are very pleased to receive support from Japan’s leading monetary institutions, demonstrating their confidence. We are well placed to access competitively priced financing, thanks to the strength of our business, and this bond provides us with increased liquidity and a flexible budget to grow Canadian Solar’s Recurrent Energy’s global business through our well-established business. Battery Garage Progression and Financing Capabilities.
Makoto Ito, Group Principal of Financing at Goldman Sachs Japan, commented: “We revere to contribute to Canadian Solar’s continued expansion. Since we helped organize its first Green Project Bond issuance in 2016, we have strived to provide differentiated and cutting-edge responses to Canadian projects. Solar in achieving its business objectives. Renewable energy is a dynamic industry where creativity and the ability to think outside the box are imperative to success. We look forward to continuing to collaborate with Canadian Solar in its quest to create a more sustainable planet for the future. generations. “
About Canadian Solar Inc. Canadian Solar, founded in 2001 in Canada, is one of the largest solar generation and renewable energy corporations in the world. It is a leading manufacturer of solar photovoltaic modules, a provider of solar energy and battery garage solutions, and a developer of large-scale solar energy and battery garage projects with a geographically diverse project portfolio in further stages of progression. Over the past 22 years, Canadian Solar has effectively delivered over 102 GW of premium solar PV modules to consumers around the world. Likewise, since entering the allotment progression industry in 2010, Canadian Solar has developed, built and connected more than nine GWp of solar power allotments and more than 3 GWh of battery garage allotments worldwide. Currently, the Company has approximately 700 MWp of solar assignments in operation, 8 GWp of assignments in structure or in standby (complex stage) and another 17 GWp of assignments in progression and initial stage. Additionally, the Company has an overall battery garage allocation progression pipeline of 52 GWh, amounting to approximately 2 GWh in structure or order book, and another 50 GWh in complex and early progression. Canadian Solar is one of the most successful companies in the solar and renewable energy sector, and has been indexed on the NASDAQ since 2006. For more information about the company, visit Canadian Solar on LinkedIn or visit www. canadiansun. com.
Safe Harbor/Forward-Looking StatementsCertain statements contained in this press release are forward-looking statements that involve a number of dangers and uncertainties that may cause actual effects to differ materially. These statements are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as “believes,” “expects,” “anticipates. ” “,” “intentions,” “estimates,” the negative of those terms, or any other comparable terminology. Factors that may cause actual effects to differ come with general business, regulatory and economic situations and the state of the industry and the solar and battery garage market; geopolitical tensions and conflicts, adding clashes, sanctions and export controls; volatility, uncertainty, delays and disruptions similar to the COVID-19 pandemic; supply chain disruptions; government for the deployment of solar energy; available long-term reserves of highest purity silicon; customer demand for end-use products and stock levels of such products in the supply chain, adjustments in primary visitor demand, adjustments in market position demand primaries, such as Japan, the United States, China, Brazil and Europe; adjustments in effective tax rates; adjustments to visitor ordering patterns; product mix adjustments; adjustments to corporate responsibility, adding environmental, social and governance (“ESG”) requirements; usability; competition point; pricing pressure and decline or inability to timely adjust average selling prices; delays in the introduction of new products; delays in the utility-wide appropriation approval process; delays in the large-scale allocation structure; delays in completing assignment sales; continued good luck in technological inventions and delivering products with features requested by visitors; lack of fabric source or capacity requirements; availability of financing; fluctuations in exchange rates and inflation; uncertainties similar to CSI Solar’s exclusion list; litigation and other dangers as described in the Company’s filings with the Securities and Exchange Commission, adding to its Annual Report on Form 20-F filed on April 18, 2023. Although the Company believes that the expectations reflected in the statements While forward-looking statements are reasonable, we cannot guarantee long-term effects, activity points, functionality or achievements. Investors should not place undue reliance on such forward-looking statements. All data provided in this press release exists unless otherwise stated, and Canadian Solar assumes no legal responsibility to update this data unless required by applicable law.
Solar Canada Inc. Contacts
Isabelle Zhang
Investor Relations
Canadian Solar Inc.
investisseur@canadianosolar. com
David Pasquale
Global International Relations Partners
Phone: 1-914-337-8801
csiq@globalirpartners. com
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SOURCE Canadian Solar Inc.