LDK Solar Co. Ltd. has entered into a new 14-day forbearance arrangement with holders of a majority in aggregate principal amount of its 10% senior notes due this year.
The new forbearance arrangement, which expires on Feb. 27, relates to the interest payment due under the notes on Aug. 28, 2013. That interest payment is still unpaid.
LDK Solar says it intends to find a consensual solution to its obligations under the notes as soon as possible. The company has engaged Jefferies LLC as a financial advisor in connection with the notes and its other offshore obligations.
