News Article
First Solar Doubles Revolving Credit Facility to $600 million
The term of the facility has been extended from three to five years and will mature in 2015.
First Solar has announced that it has amended its existing senior secured revolving credit facility, increasing it from $300 million to $600 million.
The term of the facility, which was oversubscribed, has been extended from three to five years and will mature in 2015. First Solar intends to use the facility for general corporate purposes, including the issuance of letters of credit.
The facility was agreed upon between First Solar and a syndicate of 13 leading international financial institutions. J.P. Morgan Securities and Bank of America/ Merrill Lynch served as Joint Lead Arrangers and Book Runners.
First Solar manufactures solar modules with an advanced semiconductor technology and provides comprehensive photovoltaic (PV) system solutions. The company is delivering an economically viable alternative to fossil-fuel generation today. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating cost-effective, renewable energy solutions that protect and enhance the environment.
