JinkoSolar upsizes syndicated loan to JPY6.7 billion

JinkoSolar

JinkoSolar Japan has upsized a two-year JPY5.3 billion syndicated loan signed in June 2018 to JPY6.7 billion during its annual review in June 2019.

JinkoSolar has signed the upsized syndicated loan agreement with a bank consortium led by Sumitomo Mitsui Banking Corporation (SMBC). JinkoSolar said it will use the financing to expand JinkoSolar Japan’s business and to supplement working capital.

“Upsizing our syndicated loan agreement is a vote of confidence by the bank consortium in our future business prospects and long-term growth trajectory, as well as the recognition of Jinko’s financial health and operation compliance,” said Charlie Cao, chief financial officer of JinkoSolar.