JinkoSolar, Wells Fargo Sign $20 Million Credit Agreement

Nov. 11 (Bloomberg) — JinkoSolar Holding Co., a Chinese
solar manufacturer, arranged $20 million in financing from Wells
Fargo & Co. to support its U.S. business.

Jinko will use the two-year credit agreement for working
capital and business operations, the Shangrao, China-based solar
company said today in a statement.

The deal “strengthens our financial position not only in
the U.S. but globally as well,” Charlie Cao, JinkoSolar’s chief
financial officer, said in the statement. The company received
5.9 percent of its revenue from the U.S. in 2013, up from 2.2
percent the prior year.

The company signed a five-year, 1 billion yuan ($163.3
million) financing agreement with China’s first private lender
China Minsheng Banking Corp. in July to support its operations
there, including acquisitions and power project development.

To contact the reporter on this story:
Ehren Goossens in New York at
egoossens1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Will Wade, Tina Davis

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