China’s Trina Solar goes for a convertible solar bond: US$100m, 5yr, 4% coupon. It’s a challenging market environment for solar but the bonds keep coming.

Jay OwenGreen Prosperity

China’s Trina Solar is issuing US$100m of convertible bonds with 5-year tenor and 4% annual coupon, with semi-annual payments. An extra US$15m could be raised, as Trina has given the underwriters a 1-month window to buy additional bonds. Guess they are waiting to gauge demand. Underwriters are Deutsche Bank, Barclays, and Credit Suisse, with Roth Capital Partners as …