FX.co ★ Canadian Solar Privately Places $200 Mln Of Convertible Notes With PAG

Canadian Solar Inc. (CSIQ) announced on Monday a private placement of $200 million in convertible notes with investment firm PAG.

The company intends to utilize the net proceeds to enhance its capital structure, repay existing debt, and invest in solar development projects.

The notes, which carry an annual interest rate of 6%, are set to mature on December 31, 2029.

These notes are convertible into the company's common shares at an initial conversion price of $18.20, reflecting a premium of approximately 23.4% over the closing share price of $14.75 as of August 16.