LDK Solar Co. Ltd. has entered into a strategic financing agreement with China Development Bank Corp. (CDB), a joint stock banking corporation wholly owned by the State of China.
Under the terms of the agreement, CDB will provide up to RMB 60 billion of credit facilities to LDK Solar over a five-year period. The financing will support LDK Solar's long-term growth initiatives and corporate development plans. Terms of the individual credit facilities and lending agreements will be subject to CDB's internal risk-management requirements and operational regulations.
SOURCE: LDK Solar Co. Ltd.