Canadian Solar Inc. has announced plans to make a private offer of approximately $75 million of its convertible senior notes due 2017. The company intends to grant the initial purchaser of the notes an option to purchase up to an additional $11.25 million in aggregate principal amount of the notes to cover overallotments.
Canadian Solar anticipates using the net proceeds from the offering for working capital, general corporate purposes and potential future acquisitions. The interest rate, conversion rate, offering price and other terms and timing of the offering have not been finalized and will be determined by negotiations between Canadian Solar and the initial purchaser of the notes.
